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Twitter’s Board Gave Up


You can tell a simple story about Elon Musk’s pending acquisition of Twitter Inc. that goes like this. Musk offered Twitter $54.20 per share in cash. Twitter’s board of directors consulted some bankers, who told them that the market price of Twitter’s stock was lower than $54.20, and that it would likely stay lower in the near future, due to Twitter not making all that much money...

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