‘I Think He’s Hung!’ CNBC’s Jim Cramer Says Elon Musk is ‘Stuck’ Buying Twitter

CNBC anchor Jim Cramer told co-anchor Carl Quintanilla that billionaire Elon Musk is “stuck” and won’t be able to get out of his agreement to purchase Twitter.

On Wednesday morning’s edition of CNBC’s Squawk on the Street, Cramer and Quintanilla discussed the dance Musk has been doing with Twitter over whether or not he will go through with the ostentatious agreement to purchase the company.

Cramer said unless Musk uncovers “out-and-out fraud,” the company can enforce the agreement, telling Quintanilla “I think he’s hung!”:

JIM CRAMER: Okay, so. Elon Musk had a lot of time at the company, spent three days here apparently looking at things. There is a clause called specific performance where they can force him to take it. And I don’t know how he gets out of it. I don’t know how he does not buy it. I mean, how they can’t force it. Now…

CARL QUINTANILLA: At $54.20.

JIM CRAMER: Yeah, well, I guess maybe they can renegotiate something, but that’s the contract’s $54.20. And he agreed to that. And unless you’re some sort of out-and-out fraud, which no one has found, my understanding. No fraud found. He owns it. He owns it. And he’s got to point to some fraud, some material adverse change, even in the period since he signed, of which there isn’t any. And I think he’s stuck! I think he’s hung! I don’t know. He, he’s, some of the tweets are at odd hours. I don’t know if you’ve noticed..

CARL QUINTANILLA: Yes.

JIM CRAMER: You know.

CARL QUINTANILLA: Usually between midnight and 2 am…

JIM CRAMER: Stressful period for man. Yeah. But I do think that when I look at that clause and I look at the contract, I think they can hold him to it. Now, you know, he doesn’t really care that, he’s not a traditionalist when it comes to the legal system. But the legal system says that unless there’s fraud, he owns it.

CARL QUINTANILLA: Which is why a lot of the chatter this week has been if you’re the board, just keep your head down. Absolutely. And just act as if the deal is good. And that’s part of what the statement was yesterday. We intend to close the transaction and enforce the merger agreement.

Watch above via CNBC.