Mike Ringler and Peter Jones are trading in their Skadden business cards for new Sullivan & Cromwell versions. The pair of tech dealmakers will be part of S&C’s Palo Alto workplace on the power of blockbuster offers together with representing Splunk in its $28 billion acquisition by Cisco and Ansys in its $35 billion acquisition by Synopsys. Let’s simply not speak about their largest deal… oh darn it, Reuters you needed to lead with it!
“Skadden legal professionals who guided Musk’s $44 bln Twitter deal be part of Sullivan & Cromwell”
By “guided,” we’re glossing over Musk attempting to weasel out of shopping for the corporate solely to be stymied as a result of he’d waived due diligence protections and belatedly realized that he didn’t have a legal leg to stand on when Twitter rolled up demanding specific performance. As a result of he’d additionally explicitly conceded within the settlement that Twitter was entitled to particular efficiency.
On prime of all the pieces else, he additionally inherited Wachtell’s bills for clowning him on the deal.
Not that Ringler and Jones are responsible. It’s not like they have been behind the thought to forfeit some of the foundational purchaser protections on the market and thus giving up any proper to criticism about extreme bots on a platform Musk claimed to be shopping for due to… extreme bots. Musk is the one who instructed his attorneys to make the deal “vendor pleasant.”
Because the Trump protection staff is studying in New York, generally the shopper is simply an fool.
Nonetheless, you’ve bought to really feel a bit for these guys having the headline to their subsequent transfer be the worst drafted deal they ever needed to put their names on.
Skadden lawyers who guided Musk’s $44 bln Twitter deal join Sullivan & Cromwell [Reuters]
Earlier: Twitter Complaint Demonstrates That Every Lawyer, Everywhere, Always Is Smarter Than Elon Musk
Elon Musk Will Beat Twitter! WSJ Says It’s Obvious… Assuming You Change Every Single Fact And Law.
Joe Patrice is a senior editor at Above the Regulation and co-host of Thinking Like A Lawyer. Be at liberty to email any ideas, questions, or feedback. Observe him on Twitter in case you’re involved in legislation, politics, and a wholesome dose of faculty sports activities information. Joe additionally serves as a Managing Director at RPN Executive Search.
