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Why the banks financing Musk’s Twitter deal are unlikely to be able to help him walk away

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The banks that agreed to finance Elon Musk’s $44 billion acquisition of Twitter Inc have a financial incentive to help the world’s richest person walk away but would face long legal odds, according to people close to the deal and corporate law experts.

Twitter has sued Musk to force him to complete the transaction, dismissing his claim that the San Francisco-based company misled him about the number of spam accounts on its social media platform as buyer’s remorse in the wake of a plunge in technology stocks.

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The Delaware Court of Chancery, where the dispute between the two sides is being litigated, has set a high…

Read more at financialpost.com

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