Elon Musk’s full bid letter will reveal five key details to buy Openai ncvrs.com

A consortium led by Elon Musk X.AI offered to buy Openai for $ 97.4 billion this week. Openai CEO Sam Altman rejected the proposal, which rolls the planned transformation of Openai from a non -profit organization that Musk is trying to block in a litigation procedure.

Altman’s lawyers logged in on Wednesday that Musk could not be in both directions: try to buy Openai’s assets and try to prevent him from changing their non -profit status. The Musk team replied that it would withdraw the offer if Openai stops attempting to transform from non -profit organizations.

Meanwhile, as part of the announcements, the full intention It was disclosed from the Musk team until the purchase of Openai.

Here are five key details learned from the letter and other legal announcements to illuminate this ongoing and rather messy debate.

Clear set

The unsolicited offer of Musk Group comes with a specific expiry date on May 10, 2025. There are exceptions to the deadline, if the business is finalized in advance, both parties agree to complete the discussions or officially reject the offer in writing.

In spite of Altman’s public layoffs including the Joking antidote If you buy X for a tenth of the price, the Openai body has not yet rejected the offer, as the body usually needs legitimate assessment of such offers, even from competitors.

All cash transactions

Musk’s Consortium, which includes Venture Capital Categories such as Joe Lonsdale 8 VC and SpaceX Investor, VY Capital, offers exactly $ 97,375 billion to buy Openai and says 100% of the purchase price in the letter. that they “pay in cash”.

This is noteworthy as Musk has not removed debt in the past and gives banks to banks to buy Twitter (today X) in 2022. Net wealth has since grown significantly, has increased significantly since then, Floats around about $ 400 billionSome estimates have been estimated to have his new ally, Donald Trump.

However, the letter names seven investors, including Musk Ai X.ai, and anonymous “others”, that is, Musk does not use his personal wealth to finance it.

Full access to books and staff

Before all the cash is cut, customers want to examine their Openai financial and business records and interviews to their Openai staff. This means everything for ‘tools, facilities, equipment, books and records’ the letterOr

Although this is a normal part of the screening, especially for a $ 97.4 billion offer, this can also access sensitive internal information for Musk X.AI – Openai. And after seeing all of this, their care can give them a reason to withdraw their offer.

The offer can undermine the musk lawsuit

The $ 97.4 billion bid for Openai’s acquisition contradicts Musk’s legal claims that start -up assets cannot be “transferred” to “private” for Opena lawyers Delivered in the court’s notification In a lawsuit on Wednesday.

Openai suggested that the offer should not be serious but “inappropriate to undermine the competitor”. However, Musk’s consortium claims that his offer is indeed “serious” and that his cash is going to the Openai nonprofit organization to further develop his mission.

Musk can retire if the Openai nonprofit organization remains

Musk’s legal team claims to throw away its bid for Openai if the Board of Directors is committed to keeping itself as a non -profit organization, according to a court announcement on Wednesday.

The announcement claims that MUSK’s purchase offer is real, stating that non -profit organizations have to receive fair market value for their means, on what the independent buyer would pay.

This seems to enforce what some lawyers claimed: the purpose of the offer was to pay Altman to take the company privately owned.

THE statementA lawyer representing an Openai board of directors said that Musk’s offer “does not set value for the (Openai) nonprofit organization” and that the nonprofit organization is “not for sale”.

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