Gregory's Server@Green_Footballs if you run a public company and someone tenders an offer at 2X your current market cap … it’s almost impossible to turn it down because of shareholder lawsuits.
Disirregardless, Dorsey is bad.
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2 comments
@enmodo @mattmoehr @Green_Footballs It's very odd, as there is nothing specific holding a board to this stance outside the expectation that they will act this way. It's a covenant that is self reinforcing. IMO One of the (seemingly many) ways Milton Friedman and his ilk were a poison on this earth. :ablobfoxbongo: |
@mattmoehr @Green_Footballs this is the truth. The board is legally required to put the interests of shareholders first. Ahead of the users. Ahead of society at large. It's been tested over and over in court and management knows this. They could have argued that shareholder interests were best served by not accepting the deal but very little chance of that succeeding, and from a financial perspective hindsight says it would have been wrong.