Andrew Freedman Quoted in Wall Street Journal Regarding the Next Steps in Elon Musk’s Pursuit of Twitter
Andrew Freedman, Olshan Partner and Co-Chair of the firm’s Shareholder Activism practice, was quoted in the Wall Street Journal (subscription required) regarding Elon Musk’s pursuit of Twitter. Mr. Musk’s insistence that Twitter is over run by spam bots has “upended the deal,” which has now left both sides in difficult positions. With Twitter shares sliding, Twitter’s board has said it intends to enforce the merger agreement. The quickly negotiated deal gives Twitter the right to ask a court to make Musk follow through. “The agreement”, Andy noted, “doesn’t really give a clean exit.” Lawyers have stated that specific performance is a difficult remedy to win at trial, but Musk may be in a difficult spot in part because he has banks lined up to finance a large part of this deal.