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Musk Believed Written Commitment Wasn't Necessary for Largest Buyout In History

• https://www.zerohedge.com, by Tyler Durden

 Just as striking was that Musk decided in the 11th hour not to settle this lawsuit with the SEC, leaving some analysts mystified as to why Musk would want to spend the time, money and resources to fight the agency, who has a 94.7% success rate in market manipulation cases, according to Vertical Group's Gordon Johnson.

This defiance left many wondering what Musk's "genius" line of thinking was in believing that his actions may have been acceptable. Apparently, Musk thought a couple of conversations "verbal commitment" with Saudi nationals that supposedly culminated more than a week prior to his Tweet - and resulted in no tangible numbers or defined terms for a proposed deal - was enough to state to his 22 million Twitter followers that a go-private deal was then only contingent on a shareholder vote. 

Overnight, the Wall Street Journal gave us our first look into the thought process of the CEO, and a glimpse into what Musk's defense strategy will look like.

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