3 ms·
Rejecting the deal proved not to be "nuts". Financial regulators aren't that dangerous. Musk wasn't that crazy as proved out. etc.
by pbreit 8y ago
Rejecting the deal proved not to be "nuts". Financial regulators aren't that dangerous. Musk wasn't that crazy as proved out. etc.
- village-idiot 8y agoIt was nuts, because the penalties increased. To be able to stand up against the SEC for 48 hours he paid another $10m (compared to the original deal), paid the board $20m (in purchased stock), and lost the chairmanship for 3 years instead of 2. That’s pretty expensive for 48 hours worth of grand standing. There’s no way to cast the decision to fight and then fold in a positive light. It would’ve been much easier, and introduced far less stock turmoil if he’d just accepted the first offer instead.