Matt Halbower, founder and CEO of Pentwater Capital Management, is betting that Twitter will prevail in its lawsuit against Tesla CEO Elon Musk, leading to a takeout not far from the original price tag of $54.20 a share. "I've been doing this for 25 years ... In my career, I haven't seen anyone sign a merger agreement and literally two weeks later try to manufacture an issue that they were well aware of before they signed the merger agreement in an attempt to evade their obligation," Halbower told CNBC's David Faber on "Squawk on the Street" Wednesday. Halbower, who specializes in merger arbitrage and event-driven investing, has built up so large a large stake in Twitter in the past month that he's now one of its top 10 shareholders, he told Faber. "I can make 40% in the next four months by owning these shares of Twitter, and that's a lot of money," the investor said. "This is a simple case where nothing has changed at Twitter, and Mr. Musk is trying to come up with a concoctive reason to not follow through on his obligation." Delaware Court of Chancery Chancellor Kathaleen McCormick ruled in Twitter's favor on Tuesday, deciding on an expedited trial to force Musk's $44 billion acquisition of the company. The five-day trial will take place in October. In July, Musk, via his attorneys, sent a letter to Twitter's chief legal officer, Vijaya Gadde, explaining why the billionaire believed his acquisition should no longer proceed. The lawyers alleged that Twitter underreported the number of spam and fraud accounts on its messaging service and failed to send Musk information that could presumably help him better calculate those statistics. Twitter later sued Musk and some of his associates in mid-July over allegations that the billionaire "refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests." Shares of Twitter have fallen more than 8% this year to trade below $40 as of Wednesday, more than 25% below Musk's original offer price.
"lose" - Google News
July 20, 2022 at 10:10PM
https://ift.tt/KEfvGJs
This hedgie is betting Musk will lose and is now a top Twitter holder - CNBC
"lose" - Google News
https://ift.tt/Ww8r5fV https://ift.tt/71UHmqZ
Bagikan Berita Ini
Related Posts :
- Long Island Nets lose fifth straight in blowout, 100-80, as playoff chances dwindle - Nets Dailyhttps://ift.tt/wiyGAcY Are the Long Island Nets in danger of falling out of the playoffs? After the… Read More...
- Rebel Wilson's Workout Secrets That Helped Her Lose Weight — Eat This Not That - Eat This, Not Thathttps://ift.tt/wiyGAcY Rebel Wilson has a little something to say about losing quite a lot of weight… Read More...
- Follow These Tips To Learn How To Lose Weight at the Gym - The Manualhttps://ift.tt/7Dy0MG5 Planning a gym routine to help you lose weight? We have some tips. When you s… Read More...
- Commanders Lose Anheuser-Busch Sponsorship Ahead of 2022 Season - Sports Illustratedhttps://ift.tt/wiyGAcY The Commanders will no longer be sponsored by Anheuser-Busch,… Read More...
- Without Tyreek Hill, Kansas City Chiefs 'lose the ability to instill fear' - Kansas City Chiefs Blog- ESPN - ESPNhttps://ift.tt/TMDwZpr 4:53 PM ET KANSAS CITY, Mo. -- The Kansas City Chiefs didn't necessarily remo… Read More...
0 Response to "This hedgie is betting Musk will lose and is now a top Twitter holder - CNBC"
Post a Comment