Just last week, Twitter’s board of directors told the press that they had voted unanimously to deter Musk’s potential takeover by using the ‘poison pill’, a mechanism which could dilute Musk’s shares.
We now know that Twitter’s management did not really intend to execute that plan, and their previous public statement was merely a bargaining tactic: The parties have reached an agreement over the weekend, and Musk’s final offer was around $44B instead of his initial bid of $42B!
It’s as if these business people are playing a poker game; they conceal the truth or distract the public during the negotiation period, for the purpose of increasing their bargaining power. Would you have chosen to use a similar tactic, to gain an extra $2 billion in profit?
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