I’m sure that you’ve in your career looked at a lot of different mergers and acquisitions. Which outcome seems harder to comprehend to you? Is it Delaware’s court buying this seemingly ridiculous argument that fake accounts mean he should get out of this document that he signed and make the contract worthless? Or is it someone getting stuck with a $44 billion thing that he clearly doesn’t want, which also has a lot of cultural and political relevance?

If someone’s reckless and has every opportunity to do all the due diligence and ignores it, or just is sort of playing, I think that’s really bad for the economy and bad for business. I think Delaware would take a very, very dim view of this. You can’t have that in well-functioning markets. It’s a big social issue here.

I think some of the actions are things that you don’t want to have happen in a well-functioning system—which I think we do have here, but then there could be this thing. Honestly, I think anything can happen. I think however it’s decided, it’s going to have consequences going forward in the market for corporate control. So I think it’s a big one.