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You're not caught up with things. Twitter is suing to force the deal to go through at the original price, not to get the $1B.
by vehementi 4y ago
You're not caught up with things. Twitter is suing to force the deal to go through at the original price, not to get the $1B.
- jawns 4y agoI'm aware of the latest developments, but let's work through this. There are basically two categories of Twitter shareholders: Those who are invested in the business's long-term success, and those who could care less about the business and want to dump the stock as soon as they can get a good price for it. Right now, the latter category want the sale to go through so they can divest; they don't care if Twitter burns to the ground afterward. But what is the outcome that people invested in Twitter's long-term success actually want? Twitter's lawyers are arguing that Musk is an incompetent businessman who made a really terrible knee-jerk decision, and in the same breath they're saying that he should be compelled to be made Twitter's new owner -- an unwilling, incompetent owner who will likely tank the business even if he doesn't make any more stupid decisions, just by virtue of how this all played out. These people, one would think, would prefer to get the $1B parting fee and be done with Musk, even if that means passing up on the potential for a short-term gain that an outright sale might give them. Similarly, in a romance, whatever short-term benefits you might get by having a wedding, they're never going to be worth the trouble if it means marrying a terrible person.
- vehementi 4y agoGranted such people exist but twitter i.e. the board acting in shareholders interest, in fact wants the deal to go through, not to get the $1B thing.