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"When he was handed the term sheet by a Twitter employee, a nonbinding document outlining the terms of a proposed acquisition, he read it and then handed it bac
by zaidf 14y ago
"When he was handed the term sheet by a Twitter employee, a nonbinding document outlining the terms of a proposed acquisition, he read it and then handed it back, asking Twitter executives to hold on to it over the weekend as he weighed the details, those people said."
Anyone with legal insight comment on the idea behind these two maneuvers(meeting at restaurants and handing back termsheet)? If it has legal basis, why would twitter accept such terms?
- kunaalarya 14y agoThey typically meet at restaurants (or a lot of times, hotel rooms) to discuss deals/potential deals, as being in the HQ can scare employees (who may not be comfortable with selling). It's much easier to get recognized in the HQ of a tech company, than a restaurant. And meeting in a HQ and going behind closed doors can make it seemed like somethings going on, where if they were caught in a restaurant, it could just be the typical M&A relationship building.