Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by pbreit on Friday April 15, 2022 @09:45PM
(#31048353)
Levine is being disingenuous, as usual. Obviously he would have banks and investors fighting to finance the deal. Wouldn't a breakup penalty address the breakup problem?
Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by JumpCrisscross on Saturday April 16, 2022 @02:34AM
(#31050110)
> Wouldn't a breakup penalty address the breakup problem?
No. If you’re at a table negotiating a break-up penalty, you’ve already crossed the Rubicon. You have indicated that the price was at the very least worth considering.
If that buyer then walks before agreeing to the break-up penalty, the damage has been done. Board seats have been lost for less.
Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by jimmydorry on Friday April 15, 2022 @10:17PM
(#31048623)
Not to mention he is being disingenuous by implying there was no material change between getting offered a seat at the board, and hearing what accepting that seat would entail.
Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by ellen364 on Saturday April 16, 2022 @02:33AM
(#31050101)
It sounds like Musk received the offer, accepted it and changed his mind afterwards. That is, after accepting the terms, not after receiving them. If that’s the sequence of events, I don’t think Levine is being disingenuous.
Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by the_optimist on Saturday April 16, 2022 @12:34AM
(#31049523)
Levine is a former Goldmanite, Twitter advisor. GS versus MS, the latter here unusually on the hostile side.
If it goes private. As always, Matt Levine says it better than I can:
"...the financing seems to be made up of cobwebs and phlogiston. But also Musk has joked about taking companies private before, and he generally changes his mind a lot. (He agreed to join Twitter’s board last week! And then changed his mind four days later!) If you are a well-advised professional public company board, it is just catastrophic to imagine that you might say 'okay Elon $54.20 it is' and then he’d say 'ha no I was kidding, psych!' That would be crippling for a public company. Also that is basically what he did to Twitter’s board last weekend!"
https://www.bloomberg.com/opinion/articles/2022-04-15/sure-e...