The only way that Musk could put up the cash for the deal was with the backing of a group of equity firms and wealthy
According to Insider, some of the investors may be getting cold feet now that Musk has resuscitated the deal.
"We're all trying to get out of it," said a general partner at Manhattan Venture Partners.
She said that no one thinks the company should be valued at $44 billion and that everyone is trying to get out of it.
This is a wild statement to make to the press. Walne is moving through the world with a next-level IDGAF attitude and Musk is still very much in court, battling out the possibly-failed deal amid a sea of bot claims and stupid texts.
Walne's firm handles over $1 billion in assets, which is a small portion of the deal. In an interview with Insider, Walne said that she thought it would be easier to pay $10 to $12 billion for the company.
It's not in Musk's best interests to let his supporters out of the deal.
Robert Miller, an attorney who specializes in mergers and acquisitions, told Insider that Musk's friends are begging him to let them go. The more Musk himself puts in, the less they need to.
It seems that everyone is in a bad place. Don't jump on a $44 billion bandwagon that may have been launched by a midlife crisis, that's what they say. She says she is having a hard time getting in touch with the bankers on Wall Street who might have some answers.
She said that they were being very secretive about everything.
It makes sense because of court.
One of the investors that agreed to back the bid wants out.
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