Elon Musk isn’t the first to walk away from a deal. Here’s how similar cases have ended.
Elon Musk isn’t the first executive to have buyer’s remorse.
The Tesla and SpaceX CEO told Twitter this month that he was backing out of a $44 billion takeover. Twitter, in turn, filed a lawsuit against Musk.
Though the personalities and money attached make the deal one of a kind, there have been other takeover agreements in which one party tries to walk away. Many of the lawsuits that stem from these disputes wind up in the Delaware Court of Chancery, a nonjury court that has become a premier battleground for business disputes because of the state’s business-friendly incorporation laws.