If he joins the Board, he is limited to holding shares at a little over 14%. Long term strategy.
Twitter Rises on Prospect of Musk Taking Active or Hostile Role: BBG
Are we about to witness the biggest mass resignation event in history— zerohedge (@zerohedge) April 11, 2022
Elon Musk not taking a board seat is bullish for free speech coming back to Twitter.
The board seat was a proposed tactic by Twitter's current execs & board to curb his influence (limiting his maximum shares to 14.9%).
Musk can now pursue a hostile takeover if he so chooses.— Jordan Schachtel @ dossier.substack.com (@JordanSchachtel) April 11, 2022
He acquired 9% of company shares from Feb to April. Will he get to 18% by June? Next SEC filing should be interesting to see!
if he is trying for a hostile takeover it will be interesting to see how many shares he has to buy before other big shareholders decide to flip to his side— Elliotte Want (@ecwant) April 11, 2022
IMO this process is already happening. Shareholders don't care about the woke stuff. And given Elon's record of making shareholders rich, wouldn't be surprised to see SJW panic in Twitter exec world right now.