The Orlando Police Pension Fund says that Musk's backing agreement with Morgan Stanley and Jack Dorsey created an entity with over 15% of company shares, triggering a poison-pill clause that will delay transfer of ownership for 3 years unless they get concurrence from 2/3rds of the remaining shares.
If the court agrees, the shareholders are back in the driver's seat. There's no way the board could change the deal without putting it to a shareholder vote. If Musk tries to break up his team, he'll lose funding. If the shareholders don't vote to approve, he'll have to wait until 2025, or raise his offer to induce more shareholders to concur.
3 years is eternity in this world. A lot can and will happen.
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