Eon Musk’s full display to buy Openai reveals five major details
A Investors Union Leaded by Elon Musk X.AI Offered to buy Openai For $ 97.4 billion last week. CEO of Openai Sam Altman Rejectany The gum will Openai’s Planned conversion From a non -profit institution, Musk tries to ban it in a suit.
On Wednesday, Altman’s lawyers argued that Musk could not get it in both directions: trying to buy Openai’s assets and try to prevent him from changing his non -profit position. Musk answers that the offer will be withdrawn if Openai stops Attempts to transform themselves without profitability.
At the same time, as part of these deposits, complete Rhetoric From the Musk team to the purchase of Openai.
Here are 5 main details that we learned from that message and other legal deposits to shed light on this continuous and chaotic conflict.
The deadline set is clear
The unwanted offer comes from the Musk Group with a specific expiration date: May 10, 2025. There are exceptions for the deadline if the deal is previously completed, both sides agree to end the discussions, or Openai officially rejects the offer.
Despite the fullness SenateIncluding a Counteroffer joke To buy X for the tenth price, Board’s Board has not officially refused the offer, but the councils are usually required to evaluate these offers legally, even from competitors.
Treat all club
Musk Union,, Which includes VCS such as Joe Lonsdale’s 8VC and Spacex Investor Vy Capital, offering exactly 97.375 billion dollars to Openai, and says in the letter 100 % of the purchase price, “it will be paid in cash.”
This is noticeable that Musk has not moved away from using debts in the past, A borrowing of 13 billion dollars From banks to buy Twitter (now X) in 2022. His clear wealth has increased significantly since, About 400 billion dollars floatAccording to some estimates, since the election of his new ally, Donald Trump.
However, messages call seven investors, including Musk’s Ai Company X.AI in addition to “others”, which means that Musk does not use his personal wealth to finance this.
Full access to books and employees
Before they wander around all these funds, buyers want to check financial records and business in Openai, as well as access to Openai’s employees for interviews. This means everything from “assets, utilities, equipment, books and records,” according to message.
While this is a natural part of due care, especially for a width of up to $ 97.4 billion, this can give Musk’s X.AI – an Openai competitor – access to sensitive internal information. Once they saw everything, ijtihad can also provide them with a reason to withdraw their offer.
The offer can undermine a lawsuit
Offer $ 97.4 billion to acquire Openai contradicts the legal allegations of MUSK that the startup assets cannot be “transferred” to “Private again”, Openai’s lawyer Argue In the lawsuit on Wednesday.
Openai suggested that the show is not dangerous, but “an inappropriate attempt to undermine a competitor.” However, the Confederation of Musk He says Their “is really dangerous” and that its money will go to the non -profit Openai to enhance its mission.
Musk may withdraw if Openai remains a profitable
The legal Musk team says that it will drop its attempt to obtain Openai if the Board of Directors is linked to preserving it as a non -profit institution, according to The court submitted on Wednesday.
The deposit argues that the Musk’s acquisition offer is a real offer, saying that non -profit organizations must receive the value of the fair market for their assets based on what the independent buyer will pay.
This seems to be validated by what some critics claimed: that The offer was intended to lead The ALTMAN price will have to take the private company.
in statementThe lawyer, who represents the Openai Board, said that Musk’s offer “does not specify a value to [OpenAI’s] Not profitable “and that other than profit is” not for sale. “
