I'm 100% on Elon's side here. He should be allowed to kick the tires. I've been in an organization which went through something similar twice, in both cases, based on material misrepresentations.
In the first case, two organizations who should have known better invested tens of millions of dollars, with one effectively defrauding the other. In another case, a $3.5B organization bought an $800M organization, and the combined entity was worth less than $800M within a year.
Serious, when spending tens or hundreds of millions, do your due diligence. People and organizations lie all the time.
I'd be against Elon if he backed out of the transaction based on a material change. Failure to provide data? He's being perfectly reasonable.
I'm 100% on Elon's side here. He should be allowed to kick the tires. I've been in an organization which went through something similar twice, in both cases, based on material misrepresentations.
In the first case, two organizations who should have known better invested tens of millions of dollars, with one effectively defrauding the other. In another case, a $3.5B organization bought an $800M organization, and the combined entity was worth less than $800M within a year.
Serious, when spending tens or hundreds of millions, do your due diligence. People and organizations lie all the time.
I'd be against Elon if he backed out of the transaction based on a material change. Failure to provide data? He's being perfectly reasonable.