\nEither Twitter or Parent may terminate the Merger Agreement if, among certain other circumstances, (1) the Merger has not been consummated on or before October 24, 2022, which date will be extended for six months if the closing conditions related to applicable antitrust and foreign investment clearances and the absence of any applicable law or order making illegal or prohibiting the Merger have not been satisfied as of such date; or (2) Twitter\u2019s stockholders fail to adopt the Merger Agreement. Twitter may terminate the Merger Agreement in certain additional limited circumstances, including to allow Twitter to enter into a definitive agreement for a competing acquisition proposal that constitutes a Superior Proposal (as defined in the Merger Agreement). Parent may terminate the Merger Agreement in certain additional limited circumstances, including prior to the adoption of the Merger Agreement by Twitter\u2019s stockholders if the Board recommends that Twitter\u2019s stockholders vote against the adoption of the Merger Agreement or in favor of any competing acquisition proposal.<\/p>\n
Upon termination of the Merger Agreement under specified limited circumstances, Twitter will be required to pay Parent a termination fee of $1.0 billion.<\/strong> Specifically, this termination fee is payable by Twitter to Parent because (1) Twitter terminates the Merger Agreement to allow Twitter to enter into a definitive agreement for a competing acquisition proposal that constitutes a Superior Proposal; or (2) Parent terminates the Merger Agreement because the Board recommends that Twitter\u2019s stockholders vote against the adoption of the Merger Agreement or in favor of any competing acquisition proposal. This termination fee will also be payable by Twitter to Parent in the event that, generally, (1) a competing acquisition proposal for 50% or more of the stock or consolidated assets of Twitter has been publicly announced and not withdrawn, (2) the Merger Agreement is terminated because Twitter\u2019s stockholders fail to adopt the Merger Agreement or because Twitter materially breaches the Merger Agreement, and (3) within twelve months of such termination of the Merger Agreement, Twitter enters into a definitive agreement providing for a competing acquisition proposal for 50% or more of the stock or consolidated assets of Twitter and such acquisition is subsequently consummated.<\/p>\nUpon termination of the Merger Agreement under other specified limited circumstances, Parent will be required to pay Twitter a termination fee of $1.0 billion. <\/strong>Specifically, this termination fee is payable by Parent to Twitter if the Merger Agreement is terminated by Twitter because (1) the conditions to Parent\u2019s and Acquisition Sub\u2019s obligations to consummate the Merger are satisfied and the Parent fails to consummate the Merger as required pursuant to, and in the circumstances specified in, the Merger Agreement; or (2) Parent or Acquisition Sub\u2019s breaches of its representations, warranties or covenants in a manner that would cause the related closing conditions to not be satisfied. Mr. Musk has provided Twitter with a limited guarantee in favor of Twitter (the \u201cLimited Guarantee\u201d). The Limited Guarantee guarantees, among other things, the payment of the termination fee payable by Parent to Twitter, subject to the conditions set forth in the Limited Guarantee.<\/p>\n<\/blockquote>\n<\/div>\n
<\/br><\/code><\/p>\nSource: https:\/\/www.theverge.com\/2022\/7\/7\/23199137\/elon-musk-twitter-spam-account-bot-data-breakup<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Source: The Washington Post reports that Elon Musk\u2019s $44 billion deal to buy Twitter is \u201cin peril,\u201d based on three anonymous sources who told the paper that the billionaire\u2019s camp has \u201cstopped engaging in certain discussions around funding\u201d for the agreement. Musk isn\u2019t going it alone in his attempt to buy Twitter, with others like […]<\/p>\n","protected":false},"author":1,"featured_media":9446,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[49,8],"tags":[50],"class_list":["post-9445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-technology","tag-business"],"yoast_head":"\n
It\u2019s looking more like Elon Musk could bail on buying Twitter - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/07\/08\/its-looking-more-like-elon-musk-could-bail-on-buying-twitter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s looking more like Elon Musk could bail on buying Twitter - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: The Washington Post reports that Elon Musk\u2019s $44 billion deal to buy Twitter is \u201cin peril,\u201d based on three anonymous sources who told the paper that the billionaire\u2019s camp has \u201cstopped engaging in certain discussions around funding\u201d for the agreement. 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