Investor Consortium, led by ELON Musk’s X.AI, suggested last week to purchase Openai for $ 97.4 billion. Openai CEO Sam Altman dismissed this proposal, which will promote the planned transition of Openai from non -profit organizations, and MUSK is trying to block the lawsuit.
Altman’s lawyers insisted that Musk could not have both ways on Wednesday. MUSK’s team said that if Openai stops attempts to switch from non -profit organizations, he will withdraw the bid.
Meanwhile, as part of these applications, the entire letter of intention to purchase the MUSK team’s Openai has been released.
Here are the five major details learned from the letters and other legal reports, and there are five major details that are in progress and rather reveals about messy disputes.
Clear deadline set
The unwanted proposal of the Musk group is provided with a specific expiration date on May 10, 2025. When the transaction is finished in advance, there is an exception for the deadline. Both sides agree to end the discussion, or Openai officially rejects the proposal in writing.
Despite the public dismissal of ALTMAN (joke to buy X at a tenth of the price), Openai’s board of directors did not officially reject the proposal, but the board is generally necessary to legally evaluate such proposals from competitors. do.
All cash transactions
The MUSK ‘S Consortium, including VC such as 8vc and Spacex Investor Vy Capital of Joe Lonsdale, offers exactly $ 97.37 billion to take over OpenAI, and 100%of the purchase price will be “paying in cash.”
It is noteworthy that MUSK lends $ 13 billion from banks to purchase Twitter (now X) in 2022 without using debt in the past. According to some estimates, his net assets have actually increased to about $ 400 billion. After his new allies Donald Trump’s election.
However, this letter has nominated seven investors, including the MUSK ‘Ai Company X.AI, and the “Others” without name. This means that MUSK does not raise funds using your own property.
All access to books and employees
The buyer will examine the financial and business records of Openai’s financial and business records before forking all cash. This means everything in “assets, facilities, equipment, books and records.”
This is part of the normal part of the due diligence, especially a large proposal of $ 97.4 billion, but can access internal information that is sensitive to X.AI (Openai competitor) of Musk. And once they see everything, their diligence can provide them with a reason to withdraw their proposals.
This suggestion can damage Musk’s lawsuit.
OpenAI lawyers have contradicted $ 9.4 billion in bidding that contradicted the legal claims of MUSK’s legal claim that the startup asset could not be “transfer” for “individuals” for the “individual” in the court raised by the court on Wednesday. .
Openai suggests that the proposal is not serious, but proposed “inappropriate bidding to undermine competitors.” But the consortium of the MUSK said that their proposals were actually “serious” and cash would further develop the mission by going to Openai’s non -profit organizations.
If Openai maintains a non -profit organization, the MUSK can withdraw.
Musk’s law team said that the board of directors would withdraw the bid to acquire the board of directors to keep the board of directors to keep it as a non -profit organization.
Documents claim that MUSK’s purchase proposal is a true product, and non -profit organizations evolve that the fair market value for assets is required according to the amount paid by independent buyers.
This seems to verify what some experts insisted. The proposal was to increase the price that Altman had to pay to take the company private.
In the statement, the lawyer representing Openai’s board of directors said that MUSK’s bidding does not set the value for the non -profit organization, and the non -profit organization is “not for sale.”
