EVNow
Well-Known Member
He wants to check it out ?
BTW, you can be on premium and still see a ton on ads / clickbait. I don’t see the difference - actually, ads are better. Clickbaits don’t even “warn” they are clickbaits unlike ads.
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Elon & Twitter
- Thread starter Buckminster
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BTW, you can be on premium and still see a ton on ads / clickbait. I don’t see the difference - actually, ads are better. Clickbaits don’t even “warn” they are clickbaits unlike ads.
Exactly this. The board also needs to report to their shareholders and may be liable- even if the merger is approved.
Plus now the board has to think about all the damages that may be the result of Elon’s comments.
There are really better ways to have negotiated a lower price
The board can't sell the company unilaterally though, they need a shareholder vote to do so. If the board changed the price after the vote, they would be in a much worse position than if the terms changed before the vote (in which case the shareholders would have accepted the new terms).
bkp_duke
Well-Known Member
A re-negotiated sale price would trigger a new shareholder vote. The BoD would never try to unilaterally change the sales price without shareholder approval, I'm sure that's against the Twitter corporate bylaws.
Knightshade
Well-Known Member
uh...what?
Did I miss a shareholder vote on the existing price that would mean they'd need a "new" one if the price ends up being different?
AFAIK no such vote happened at the May 25 annual shareholder meeting.
I assumed, based on the posts on the previous page, that was speaking of a situation where a vote had already happened. Which it hasn't.
bkp_duke
Well-Known Member
You are correct, but my point was that IF the vote had already occurred, then a new one would have to happen. That's all. I'm well aware that a vote has not happened yet.
As all know, I have nothing positive to say about Twitter, but this statement -
is such a staggering condemnation of a Board, of a company and, to someone who has spent a very large amount of time learning about corporate boards, their role and their history that it is so strongly suggestive of gross dereliction of fiduciary responsibilities that I have to wonder: are you SURE of that number?
is such a staggering condemnation of a Board, of a company and, to someone who has spent a very large amount of time learning about corporate boards, their role and their history that it is so strongly suggestive of gross dereliction of fiduciary responsibilities that I have to wonder: are you SURE of that number?
Knightshade
Well-Known Member
bkp_duke
Well-Known Member
It made the news rounds after Elon tweeted early on in the negotiations how little stock they owned:
Ex-CEO Dorsey criticizes Twitter board; Musk says it 'owns almost no shares!'
The board is currently considering a $43 billion bid from Tesla CEO Elon Musk to buy the company and take it private.
This tweet, which Elon replied to, was the original source:
This, of course, excludes Dorsey, who isn't on the board any longer.
Well, you all prompted me to find the answer.
With 764.18MM shares outstanding, the (non-Dorsey) total shareholdings by the BoD, which from the charts above sum to 0.12%, mean a total of 917,000 shares.
Take out other corporate officers - just a minute…..
Agrawal and, arguably, Kordestani, and we’re down to 0.034%. Pretty pathetic, but still 260,000 shares.
A bit different from “77”.
With 764.18MM shares outstanding, the (non-Dorsey) total shareholdings by the BoD, which from the charts above sum to 0.12%, mean a total of 917,000 shares.
Take out other corporate officers - just a minute…..
Agrawal and, arguably, Kordestani, and we’re down to 0.034%. Pretty pathetic, but still 260,000 shares.
A bit different from “77”.
bkp_duke
Well-Known Member
Admittedly, I didn't first-hand verify the information, but it's pathetic regardless.
Opposite end of the spectrum from Tesla, a company whos' BoD believes in the company and the product enough to put their money where their mouth is.
Also, just curious, where your 260k shares that you found recently granted? Per Twitter's filings I believe the BoD is granted shares annually as part of their compensation, and they just had a shareholder meeting. Would be entire plausible that both numbers are accurate, for their respective time periods, because the BoD is granted shares and then sells them off as soon as they vest?
Well, the percentages and 77 came from the same Tweet, so time locked...
I did check the recent F4s, and they do hold shares, but unsure what the original source was, as in, did they ever buy Twitter?
EVNow
Well-Known Member
BOD chairman is co-CEO of Salesforce and probably the future (sole) CEO. I've not researched others ... but my guess is they are all there because of "status" and they want to preserve their reputation in SV. They will act accordingly.
EVNow
Well-Known Member
Friend : Have you seen how bad Youtube is ?
Elon : how ....
Friend : Just see the scam ads they show all the time
Elon : Let me check ...
ps : People have this weird idea that Elon is an isolated person, sitting alone in his office/home and thinking up all this. He is a very popular and connected person in the tech world.
Reportedly , board has decided to give Elon access to the firehose...
EVNow
Well-Known Member
LOL. So much for all the people saying here saying he waived due diligence, so he has no choice but to just pay up $44B. They are desperate to sell twitter. They will not find a buyer who will pay more money.
Anyway - this will be fun. I hope he finds enough problems to walk out.
Do you mean you're hopeful that Twitter was misreporting or that his misunderstanding of mDAU is clarified to the point he decides to walk?
EVNow
Well-Known Member
Either way .... I just hope he walks off the deal. IMO, it is a major distraction and Elon simply doesn't have the social intelligence needed to deal with problems of free speech and moderation.
ps : If he does take over Twitter I expect a similar tweet to this soon ...
Nothing has more degrees of freedom than Elon attempting to buy Twitter. It is simply unreal.
The week just got a tad more interesting yet again. Too bad the NDA's are supposedly strong and if anything will just be lawyer assertions.
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