UPDATE: Twitter vows legal fight after Musk pulls out of $44 billion deal

[BumRushDaShow]

47. I doubt it

because his clown show depressed the stock price and he signed an agreement and his best "out" is to pay the $1 billion and move on.

This sort of thing happened in the past during earlier (hostile bid) merger attempts.

AT&T & T-Mobile went through this just over a decade ago -

T-Mobile and AT&T: What’s $2 Billion Among Friends?

By Michael J. de la Merced December 20, 2011 9:22 am


You say “po-TAY-to,” I say “po-TAH-to.” But in the case of the T-Mobile USA deal’s breakup fee, it’s a very big root vegetable.

In announcing on Monday that it was ending the $39 billion takeover attempt, AT&T said it would pay T-Mobile’s parent, Deutsche Telekom, a $4 billion breakup fee. But on Tuesday morning, Deutsche Telekom officials placed the value of the fee at a significantly higher $6 billion.

(snip)

https://archive.nytimes.com/dealbook.nytimes.com/2011/12/20/att-and-t-mobile-whats-2-billion-among-friends/

Mike Isaac Business Dec 19, 2011 5:41 PM
AT&T Drops Its T-Mobile Merger Bid in $4B Fail



Faced with the prospect of a long war with U.S regulators it seemed destined to lose, AT&T announced on Monday it would give up on its $39-billion attempt to purchase T-Mobile, even though the decision will cost the nation's number-two carrier at least $4 billion to walk away from the deal.

The proposed merger would have brought together the second- and fourth-largest telecommunications carriers in the United States, ultimately surpassing Verizon Wireless to be the largest telecom in the country. As recently as 11 days ago AT&T said it would not back down (though Chief Financial Officer John Stephens did seem to betray a bit of uncertainty). Instead, AT&T is out $4 billion with nothing to show for a proposed merger that drew instant fire from consumer groups and spectrum geeks.

Further, AT&T will be forced to transfer radio spectrum to T-Mobile, as well as "enter a mutually beneficial roaming agreement with Deutsche Telekom," according to AT&T's statement. The entire package will cost AT&T $3 billion in cash, plus at least another billion or more in spectrum and network sharing agreements.

Not that AT&T is conceding the merger was a bad idea.

(snip)

https://www.wired.com/2011/12/att-tmobile-merger-ends/