Astounding to me that this is what the leadership at twitter wanted, even forcing Elon to go through with the deal when he tried backing out, knowing full well that this is what would happen to their employees. All for like 20-30% premium on the stock price.
Musk only owned about 10% of TWTR when the takeover attempt started. The majority of twitter shares were held elsewhere by shareholders who were more than happy to legally force Musk to pay ~2x market value for them after the tech stock market collapse.
Why is it astounding? Leadership is there to serve the interests of shareholders, not employees. For obvious reasons, this truth is usually elided behind talk of "company families" and "valued employees", but it never ceases to be the truth.
>Astounding to me that this is what the leadership at twitter wanted
If they didn't accept and try to finalize his offer, they could have been successfully sued by shareholders: You don't turn down a premium offer unless you think you can get better, and you absolutely finalize that deal if the market takes a sharp downtown after getting it.
