Twitter holder expects social media giant to prevail, Musk 'not above the law'
Scott Olson

A major Twitter holder said he expects Twitter (NYSE:TWTR) will prevail in its legal fight with Elon Musk over his decision to attempt to terminate the $44 billion deal.
"I don't believe Elon Musk is above the law, Matt Halbower, CEO and portfolio manager at Pentwater Capital, one of Twitter's (TWTR) top ten holders, said in an interview with CNBC earlier. "This is a simple case ...where nothing has changed at twitter and Mr. Musk is trying to come up with a concocted reason to not follow his though on his obligation."
Halbower is very confident that Twitter will win and Tesla (TSLA) CEO Musk will be have to complete his obligation to acquire the company, though if he is wrong and the court rules in favor of Musk, he sees potential downside for TWTR stock to drop to the low to mid $20s/share.
"I can make 40% in the next four months by owing those shares of Twitter and that's a lot of money," Halbower said on a potential Twitter victory.
Halbower also explained that "specific performance is an extraordinary remedy, but it happens in Delaware and all judges, especially the Chancellor of the Chancery Court in Delaware, are used to having their orders followed and they are not going to make a special exception for Elon Musk because they are afraid that Elon Musk is too rich to follow their orders."
Halbower's remarks come after Musk received a setback in his plans to terminate his $44 billion purchase of the social media giant Tuesday when a judge said a trial would start in October rather than the February start that Musk's legal team had requested.