3 ms·
The fiduciary obligation is to act in the company's (not shareholders') best interests, not to maximise (short term) shareholder value. If the board has grounds
by tomhoward 4y ago
The fiduciary obligation is to act in the company's (not shareholders') best interests, not to maximise (short term) shareholder value. If the board has grounds to believe they can increase the value of the company over the long term by more than Musk's present offer is doing, they're right to do this and are legally safe.