albaby1 explains,
<<What’s twitter worth absent Elon Musk’s bid? $20/share?
Are shareholders willing to take the financial hit to keep Musk out?>>
This may not be about keeping Musk out. It might signal their commitment to aggressively hold him to the $54.20 deal - or at least to have some very sharp elbows if/when he tries to renegotiate it to a lower offer price.
That makes no sense. How does kicking a Musk ally off the board make it more likely that the deal is consummated?
Musk can fund a lot of expensive litigation with the difference between $54.20/share and $20.
intercst