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A comment on Elon Musk makes $43B unsolicited bid to take Twitter private. Parent comment

Re:Elon Musk makes $43B unsolicited bid to take Twitter private by metamet on Thursday April 14, 2022 @01:42PM (#31030414)
That is a great question and I wonder the same thing.

"I am going to dump 1/10th of the company that I very publicly acquired if they don't do what I want them to do" feels like manipulation since he's controlling the value of such a large amount of it.

But is it illegal to be willing to lose money if a threat isn't met?

Furthermore, would it be illegal for him to dump his shares, allow the trajectory to tank the price further, then rebuy when it bottoms, rinse and repeat?

[ Parent | on HN ]
Re:Elon Musk makes $43B unsolicited bid to take Twitter private by l33t2328 on Thursday April 14, 2022 @05:56PM (#31033814)
It’s not illegal to say “I want to buy more shares at what I believe to be a generous price. If the board won’t sell me these shares, I don’t trust the judgement of the board and will subsequently sell my existing shares.”
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Re:Elon Musk makes $43B unsolicited bid to take Twitter private by meatsauce on Thursday April 14, 2022 @02:51PM (#31031548)
That's called a hostile takeover. Part of being a public company.

No, you are allowed to sell your shares if you don't want them anymore.

[ Parent | on HN ]