The dust from the explosion that was Elon Musk’s Twitter buy is still settling, but some are already beginning to anticipate the effects of a soon-to-be privately-owned Twitter under Musk’s ownership. The finalization of Musk’s purchase has yet to entirely go through, according to the SEC, and there’s still technically a chance that the deal could fail sometime before October 24, 2022, in which case Musk will be handed $1 billion and a farewell notice according to the official SEC merger document. After all, it still isn’t clear where Musk is going to pull the $21 billion needed to complete the deal.
A lot could still go wrong before October, and Musk himself could be the one to screw things up. One clause in the merger contract, under Section 6.8, states that Musk “shall be permitted to issue Tweets about the Merger or the transactions contemplated hereby so long as such Tweets do not disparage the Company or any of its Representatives.” Musk has already breached this exact clause as of April 26, when he tweeted a direct criticism of Twitter’s safety lead Vijaya Gadde for her formal involvement in banning former president Donald Trump and his proprietary media organization from the platform, saying, “Suspending the Twitter account of a major news organization for publishing a truthful story was obviously incredibly inappropriate.”
Twitter’s shareholders have yet to completely finalize the transaction, but it still seems likely that they will. The aforementioned shareholders have planned to hold their next annual meeting on May 25, 2022.
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