> If I was a member of Twitter's board, Musk's history of erratic public behavior, SEC settlement, and openly hostile attitude towards the company's employees would be more than sufficient to justify my belief that his controlling ownership would not be in the interest of the current average shareholder.
That... makes absolutely no sense. The interest of the current average shareholder ends when they sell their stock. There is no point in time at which both (1) the current average shareholder owns more than zero shares, and (2) Musk has a controlling interest. So it's impossible for those two things to conflict.
If you were a member of Twitters board, would it be in the interest of the current average shareholder to sell their shares at well above the market price?
> If you were a member of Twitters board, would it be in the interest of the current average shareholder to sell their shares at well above the market price?
That definitionally depends on whether you, as that hypothetical board member, believe that Twitter has the potential to reach a share price higher than $54.20 if it stays public.
Also, remember there is nothing that binds the board of a company to solely consider potential shareholder value in the actions they take. There's a widespread belief that "fiduciary duty" overrides all other concerns, but from a regulatory/legal standpoint, that's simply not so. The board obviously needs to take it into account, but if they believe a merger or takeover is not in the best interest of the company, they don't have to take it.
It depends on how you define fiduciary responsibility. If it’s a point in time, transactional view, yes. If it’s a long term view of maximizing share holder value over time, not necessarily.
That... makes absolutely no sense. The interest of the current average shareholder ends when they sell their stock. There is no point in time at which both (1) the current average shareholder owns more than zero shares, and (2) Musk has a controlling interest. So it's impossible for those two things to conflict.
If you were a member of Twitters board, would it be in the interest of the current average shareholder to sell their shares at well above the market price?