Biotech Values

[10nisman]

OT

What Surprised me was that on Thursday Musk made an offer and Friday Twitter adopts a poison pill. Did they even talk to Musk?

Yes, they did. They spoke to Musk after he disclosed his 9.2% stake --- remember he was going to join the Board but after discussions he did not. Musk obviously indicated he wanted to either acquire a larger stake or potentially make an offer for the entire business and thus, it made no sense for him to join the Board.

Musk also said his offer was his "best and final", so there's nothing to discuss. The Board is doing its fiduciary responsibility... it met, discussed the offer, and agreed the offer greatly undervalued the business. It instituted a poison pill which makes obvious sense, and most likely is conducting an informal process gathering other potential interest before deciding whether to start a formal bid process.

I guess that's a weak, scared management.

There is nothing weak or scared about what Twitter is doing. This is very common and it's how you maximize a potential buy-out offer.