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Twitter could probably force a sale just by closing Musk's Twitter account. That's a direct contributor to much of his wealth. They can say you'll get your ac

Twitter could probably force a sale just by closing Musk's Twitter account. That's a direct contributor to much of his wealth. They can say you'll get your account back when you honor the original deal.

gkoberger 4y ago
The board doesn't want the deal to close. Nor does Musk. They both just don't want to be responsible financially.
- vecter 4y ago
  At this point with the market in a drawdown, you don't think that the board wants to close the deal? It would seem to me that it's their fiduciary duty to try to close a deal at well above the current market price, and probably any price they'll have in the far foreseeable future also.
  - gkoberger 4y ago
    I guess there’s two questions in there… do they want to avoiding closing, and do they want to be accused of violating their fiduciary duty. For the first, they all know they’re getting fired the minute Elon can find a way. Maybe they care about money, but I bet they also would prefer to keep their positions. I bet a lot of them believe in and like Twitter, and it’s not about money. As for the second question… they can’t be seen as the reason it doesn’t close. I firmly believe they’ve been banking on Elon doing exactly what he’s doing. They likely can’t be successfully sued if they say “hey, we accepted the deal and did everything Elon asked…”
    - vecter 4y ago
      Good points. If Elon took over, would he actually be able to fire the board though? I thought that the point of the board is to keep the CEO accountable, but maybe there are other tricks he can play.
      - devoutsalsa 4y ago
        If you own the 50% or more of the company, you can pretty much do whatever you want. The shareholders elect the board members, and you can win any vote. That's how I understand it in a normal situation anyway.
mijowi 4y ago
If they did that those people would get fired once Musk had control.

gkoberger 4y ago

The board doesn't want the deal to close. Nor does Musk. They both just don't want to be responsible financially.

vecter 4y ago
At this point with the market in a drawdown, you don't think that the board wants to close the deal? It would seem to me that it's their fiduciary duty to try to close a deal at well above the current market price, and probably any price they'll have in the far foreseeable future also.
- gkoberger 4y ago
  I guess there’s two questions in there… do they want to avoiding closing, and do they want to be accused of violating their fiduciary duty. For the first, they all know they’re getting fired the minute Elon can find a way. Maybe they care about money, but I bet they also would prefer to keep their positions. I bet a lot of them believe in and like Twitter, and it’s not about money. As for the second question… they can’t be seen as the reason it doesn’t close. I firmly believe they’ve been banking on Elon doing exactly what he’s doing. They likely can’t be successfully sued if they say “hey, we accepted the deal and did everything Elon asked…”
  - vecter 4y ago
    Good points. If Elon took over, would he actually be able to fire the board though? I thought that the point of the board is to keep the CEO accountable, but maybe there are other tricks he can play.
    - devoutsalsa 4y ago
      If you own the 50% or more of the company, you can pretty much do whatever you want. The shareholders elect the board members, and you can win any vote. That's how I understand it in a normal situation anyway.

mijowi 4y ago

If they did that those people would get fired once Musk had control.