They made a deal because Elon had checkmate, fool.
That's right, when Elon bought the stock it was around 27 or less.
The announcement that he bought it sent it 50. So he goes and tries to take it over. They said no, if you do, we will poison the well for everyone. Then he sets it up to buy straight from the sharaholders because a vote was blocked by the board.
This means that Twitter board HAS to negotiate. So they did.
If they say no to $54 bucks, elon immidiately sells his position and decides to now compete with twitter, thus sending that stock to hell. with that done, shareholders can sue the board for decades to come.
No white knight company stepped up to bid on twitter because they would absorb that loss.
It's so simple and yet so ingenious.
Time to fucking educate yourself before going overboard
They made a deal because Elon had checkmate, fool. That's right, when Elon bought the stock it was around 27 or less.
The announcement that he bought it sent it 50. So he goes and tries to take it over. They said no, if you do, we will poison the well for everyone. Then he sets it up to buy straight from the sharaholders because a vote was blocked by the board.
This means that Twitter board HAS to negotiate. So they did.
If they say no to $54 bucks, elon immidiately sells his position and decides to now compete with twitter, thus sending that stock to hell. with that done, shareholders can sue the board for decades to come.
No white knight company stepped up to bid on twitter because they would absorb that loss.
It's so simple and yet so ingenious.
Time to fucking educate yourself before going overboard