Twitter’s board, excluding Jack Dorsey, owns only 0.12% of the shares, but they not only rejected Musk’s bid for 20% above market value, they also threatened to dilute Musk’s stake, according to WSBChairman’s disclosure on social media.
It is reported that Goldman Sachs Bank advised Twitter’s board of directors to reject Musk’s acquisition deal, but Goldman Sachs’ current target price for Twitter stock is only $30, which is 45% lower than Musk’s offer.
To this, Musk responded: To be fair, for the Twitter board, they may be more concerned about other potential bidders than me personally.
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