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A comment on Twitter board adopts poison pill after Musk’s $43B bid to buy company. Parent comment
They do not have an offer that will maximize shareholder value - they have an offer that will increase it.
Words have meaning and concepts have definitions. They are not arbitrary of flexible for the sake of making the argument you want.
The BOD's responsibility is to the company, a public company's responsibility is to the shareholders - this difference matters.
Cornell's legal information institute provides a nice and cited set of definitions (albeit in legalese) - https://www.law.cornell.edu/wex/fiduciary_duty
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They do not have an offer that will maximize shareholder value - they have an offer that will increase it.
Words have meaning and concepts have definitions. They are not arbitrary of flexible for the sake of making the argument you want.
The BOD's responsibility is to the company, a public company's responsibility is to the shareholders - this difference matters.
Cornell's legal information institute provides a nice and cited set of definitions (albeit in legalese) - https://www.law.cornell.edu/wex/fiduciary_duty