I thought his bid was already rejected.?
Not that I’ve heard, the Board of Twitter has adopted Poison Pill Defense, which affects the number of shares any one person can own, what that is I’m not sure of.
The problems for twitter are many, if they outright reject the offer which is a premium price, they could feel the rath of the shareholders and an avalanche of lawsuits.
If Musk walks away and the price twitter stock drops as predicted in this lawsuit, another avalanche of lawsuits could happen.
The other thing that could happen is what happens if Musk recruits an ally, someone like Peter Theil, joins Musk and ups the offer and it gets rejected as well.
You could get an all-out internal war for control of Twitter, lawsuits from the stockholders and a proxy war for control of the company.