Lol @ the Musk/Twitter acquisition deal
1. Quietly accumulate stake in Twitter against SEC regulations 2. Announce intention to purchase company pumping up the stock price 3. Sell options on your stake and bank the premiums 4. Tank stock by pulling out of deal making the options unlikely to be exercised 5. Sell your stake off its all time highs but still at a profit vs what you quietly purchased them for. Billionaires pump and dump on a totally different scale.
When you think about it, part of the issue here is this whole “fiduciary” responsibility of the board. Besides driving financial results for shareholders, the board should be obligated to realizing the mission. Greed takes many forms.. Not to support Elon’s complete bozo move, but blame here can go both ways.
Meh, the board's hands were tied, they can't ignore an offer that appears for all intents to be serious, they have to entertain it. Even if they were certain Elon was trolling them they would be sued by the shareholders if they had no actual evidence. Elon had JP Morgan or whoever backing his money; that's serious. I think whatever Elon's intent he knew he could force them into negotiations and they knew it too. Sucks for them, so now they're going to try and exact revenge for it
Exactly. Perhaps the blame to the board members was misplaced, but the overall obligation and forced negotiation is what’s wrong here.
Ok
He is so shady. Him and Trump are the same. Born into wealth and take the credit. Selfish and egotistical, create chaos without care for who they harm.
Not sure id treat Elon as someone who doesn’t deserve his wealth. Dude worked for that and took massive risks nobody else in this world has the guts for, and managed to come out successful. Not all his effort but still far from trump
and use the proceeds for a protracted legal battle to further damage the company and employee morale, to settle his personal grudge against the platform.
"damage employee morale" because the employees are worried about how big the stack of cash elon will be paying twitter for failing to purchase is?
Damage is because employees not knowing what’s next