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In theory and depending on the shareholder makeup. In practice, the board makes the decision. Recall the controversy of Musk making fun of the Twitter board f
by psychlops 4y ago
In theory and depending on the shareholder makeup. In practice, the board makes the decision. Recall the controversy of Musk making fun of the Twitter board for not acting in the shareholder interests.
- jakelazaroff 4y agoAs I understand it, the board is responsible for putting the motion to the shareholders (Twitter shareholders still had the option to reject the Musk buyout). In practice, the board makes the decision because retail shareholders tend to not vote. But they could, if most of them were about to take on a big loss!
- psychlops 4y agoYes, that's my thinking as well. iirc in that case, the board rejected the first buyout offer even though it was for more than the current share price.
- deleted 4y ago[deleted]