Twitter board adopts poison pill after Musk’s $43B bid to buy company

Re:Twitter board adopts poison pill after Musk’s $43B bid to... by SkyMarshal on Friday April 15, 2022 @04:09PM (#31045186)

> and not be found working against the interest of shareholders.

It depends on what the interests of the shareholders actually is. Monetary only, or are there other considerations they care about?

I assume the boards of such companies have had private discussions with the majority shareholders to find out exactly what their priorities are, and then acted accordingly.

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Re:Twitter board adopts poison pill after Musk’s $43B bid to... by RosanaAnaDana on Friday April 15, 2022 @04:24PM (#31045369)

>It depends on what the interests of the shareholders actually is. Monetary only, or are there other considerations they care about?

Is a board allowed to consider anything but?

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Re:Twitter board adopts poison pill after Musk’s $43B bid to... by riccardomc on Friday April 15, 2022 @04:43PM (#31045596)

Yes. The law doesn't bind directors to maximize shareholders value.

https://www.reddit.com/r/law/comments/3pv8bh/comment/cw9t52d...

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Re:Twitter board adopts poison pill after Musk’s $43B bid to... by ameister14 on Friday April 15, 2022 @05:09PM (#31045862)

I could be wrong but I don't think Twitter is a B corp.

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Re:Twitter board adopts poison pill after Musk’s $43B bid to... by riccardomc on Saturday April 16, 2022 @03:05AM (#31050259)

Twitter is not a B-Corp indeed. However any company, not just B-Corps, can have a purpose other than shareholders value maximization. Check this article: https://doi.org/10.1111/joms.12660

There's an easily searchable index of B-Corps: https://www.bcorporation.net/en-us/find-a-b-corp

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Re:Twitter board adopts poison pill after Musk’s $43B bid to... by ameister14 on Saturday April 16, 2022 @08:33AM (#31051788)

>any company, not just B-Corps, can have a purpose other than shareholders value maximization.

It's moving there but I don't think it's there quite yet according to case law. The board motivations at present still have to tie back to maximizing value for shareholders.

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Re:Twitter board adopts poison pill after Musk’s $43B bid to... by namdnay on Friday April 15, 2022 @04:41PM (#31045567)

Of course they are, major investors regularly push boards to do more ESG for example

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Re:Twitter board adopts poison pill after Musk’s $43B bid to... by ameister14 on Friday April 15, 2022 @05:02PM (#31045788)

So most directors can get around the shareholder primacy rule pretty easily by tying the changes they want back to shareholder value.

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