I know Marc has said he recused himself (see above), but it's worth adding the following: You might think a board needs to approve it, but offers are often all

I know Marc has said he recused himself (see above), but it's worth adding the following: You might think a board needs to approve it, but offers are often allowed within certain parameters prior to closing a sale. Facebook might have a higher tolerance for what that limit is. It's entirely possible the board had previously, unrelated to any specific transaction, passed a motion that allows management to offer any M&A transaction up to one billion dollars barring anything that comes up in diligence. This is not uncommon. We know FB is oriented to streamline processes and this might be another case of that. For instance, I know that the Salesforce acquisition of Heroku involved a price ceiling at which point the deal would require board approval, so the purchase price was kept (just) below that ceiling so that it could be expedited internally.