Given that it’s at a share price premium for 90%+ of the lifetime of the stock since IPO, yes. Most shares were bought below the price Musk is asking.
Note that I'm all for companies having much more legal responsibility to other stakeholders, not just shareholders, but that is somewhat irrelevant for a discussion of whether the board could be successfully sued over adopting this decision.
[0] https://www.bloomberg.com/opinion/articles/2022-04-15/sure-e...
https://www.investor.gov/introduction-investing/general-reso...
One of my favorite books: "Small giants, companies that choose to be great instead of big"
But if France put a bid on twitter, they would be forced to entertain the offer.
He wouldn't bother because it'd be a failure. Twitter's tech stack isn't worth 40 billion, Musk could clone twitter for less than $500m, but just having a platform doesn't accomplish much, the overwhelming majority of twitter users have no reason to leave twitter.
For a real alternative to succeed, solid backers focused on dethroning tw are needed to inspire confidence and stability, then we all need to jump at about the same time to get the momentum going and bounce out of the twatterverse.
As it stands now, there is no real competition.
That's exactly the point - there is no reason to believe this would change if Musk created his own social network.
Most rejected the overall concept. The amt of users that stil want something similar but not Twitter AND who will be appeased by whatever alt Twitter is made is an even smaller number.
The world is littered with the expensive corpses of failed software.
Google's product lacked purpose. It died because of a lack of vision and leadership and product mistakes (real names).
It died prematurely. Google treated the product like a pilot a network threw on the first week of September. It had solid numbers and given time it could have found itself if it found a backer in leadership.
And existing investors all have the option to cash out today for just 17% less than Musk's final offer.
a: You're dreaming.
b: You're absolutely expecting a quick short-term gain.
To put this in perspective, 20x in 5 years is an 82% CAGR. And five years is far short of the length of an economic cycle. Traditionally, "long term investing" meant across at least one whole business cycle.
Vote with your dollars: buy shares at a price higher than Elon's. Borrow if you must. If you are not ready to take that risk, then maybe your expectations are more wishful thinking than anything real.