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> I'm not sure that one of the things that didn't happen here is that the Twitter board and executives, understanding that there was no real path to near-term p
by prirun 4y ago
> I'm not sure that one of the things that didn't happen here is that the Twitter board and executives, understanding that there was no real path to near-term profitability and an impending downturn, forced a now-broke guy to cash them out.
Twitter didn't force anyone to do anything, and it wasn't their idea. Musk offered to buy them w/o due diligence.
- legitster 4y agoUmmm. Sure. But if you cared about your baby, maybe you wouldn't pass it off to the guy desperately trying to get out of the deal? Twitter's board absolutely had the right to sue for specific performance, but they didn't have to.
- amitamit 4y agoNot really. The Board has a fiduciary responsibility to the shareholders. They can say NO to a "serious offer" only if they can claim with confidence that the offer is undervaluing the assets, or if there is another better offer. Neither was true for Twitter.