People keep saying this... But twitter board accepts the very first offer from Musk.

Who does that in a business negotiation?

Someone who's being offered $10 for a $5 bill.

You would try to get $12 at least before accepting $10.

>But twitter board accepts the very first offer from Musk.

Is this true?

From here it seems to have gone up for $43 billion to $44 billion somehow after the initial offer:

https://en.wikipedia.org/wiki/Proposed_acquisition_of_Twitte...

I'm not sure if that is because of a modified offer, or the offer was based on some benchmark that had dropped (he already had a large portion of Twitter's shares).

Also between April 14th when he initially made an initial offer and April 25th when they accepted one, the bottom had started falling out. Facebook, in the same sector had dropped by around 10%, so by the time they accepted it was much more attractive.

Musk seems to have timed the offer and the initial separate share purchase all horribly wrong.

From what I've read, they're obligated to accept that sort of offer for their shareholders.

They're not obligated to; boards can pretty much do whatever they want.

However, Twitter's board doesn't use Twitter and doesn't actually seem to care about it at all, so they're not exactly going to claim to shareholders they can run it better than an offer that much above its current value.

> Twitter's board doesn't use Twitter

[citation needed]

Aren't they obligated to negotiate for a higher price? At least, they should try.

Who the heck doesn't negotiate?

How is no negotiation the best strategy?

Hmm this might be hard for you to believe but I've never negotiated in my life. I always accept asked price. Didn't realize this is not the norm. This is not in business context though.

You are not running a $30b company.

At work, I was involved in a deal with a large company. The numbers are back and forth like 10 times with adds-on and discounts. It's just standard stuff.