[am3101]

The two biggest threads that seem to be coming out: 1- a number of large shareholders are on board 2- (probably related to the prior point) no one seriously thought Musk would be able to secure the financing, but he did. Remember, this is the guy who promised to do a take-private of Teslas with "funding secured" when it was very clear no such funding was secured. The Board, understandably, didn't want to waste time negotiating with Musk and said "show us the money"

This is a good piece (before Musk had secured the financing): https://www.bloomberg.com/opinion/articles/2022-04-20/elon-c...

> Another point I would make is that Twitter’s board is doing a decent job of (1) asking these questions and (2) forcing Musk to answer them. In a sense, launching a tender offer is a way for Musk to put pressure on the board to do a deal. But in another sense, forcing Musk to launch a tender offer is a way for the board to pressure him to find financing, which is a prerequisite to a deal and not something he would do on his own. In his own life, Musk is very casual about what counts as “funding secured,” as we know now from repeated experience. Writing a tender offer document will force him to be less casual.

> Broadly speaking, what has happened so far is (1) Musk offered the board $54.20 per share to buy Twitter, (2) the board said “show us the money,” and (3) Musk is working on it. If he comes up with the money, then the board will have to make some decisions, but right now the ball is in his court.