Twitter's board accepted Musk's $44 billion bid to buy the company and take it private on April 25, but the deal is months away from closing, and Twitter's shares are trading far below the offer price.
It’s becoming quite clear that Elon Musk no longer wants to buy Twitter Inc., at least not at the price he negotiated. But Twitter should not walk away without at least $1 billion and potentially much more for the trouble.
The Twitter board owes its shareholders every cent it can pull out of the pockets of the world’s richest man after what he has put the company, its investors and its employees through in the past month. It is board members’ fiduciary duty to do so, and Musk has given them every reason to stand strong against him.