The price in the deal was set by professional lawyers at Goldman Sachs, so if it was beyond stupid, it was not Elon’s fault.
The deal was proposed before the recession, and at that time there were people proposing that the price is too low, because Twitter stock was over $60 at some point.
Of course in the current market Elon would pay a few billions to get out of the deal, but it’s a different deal than what it has been a few months ago.
If I have a classic car appraised and don't like the appraised value I'll pass. Goldman Sachs was working for Twitter, of course they are going to try to maximize the valuation. Musk should have done DD before agreeing on a price, it's that simple.
GS was offering a fairness opinion to the board, so they need to say, in essence, that "54.20 is a good price, because it is more than Twitter is worth by itself."
So they aim to provide a somewhat lower valuation.
The price in the deal was set by professional lawyers at Goldman Sachs, so if it was beyond stupid, it was not Elon’s fault.
The deal was proposed before the recession, and at that time there were people proposing that the price is too low, because Twitter stock was over $60 at some point.
Of course in the current market Elon would pay a few billions to get out of the deal, but it’s a different deal than what it has been a few months ago.