Musk made a bid of $46 Billion for the whole cake and called it his “last best offer” which then placed the responsibility solely on the shoulders of the board members. This was essentially a check mate move from Musk since he knew that his offer was nearly twice that of what Goldman Sach’s suggested Twitter sell their stock at – $30/share. Musk’s $56/share made it impossible to say no since doing so would make the board members violate their fiduciary responsibilities to the company.
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