Tesla and SpaceX CEO Elon Musk made a bid on Thursday to take Twitter private for $54.20 per share, or around $43 billion in cash, after rejecting a proposal of a board seat.
Musk’s offer, which is 18 percent higher than the last closing price, is under consideration, the board said.
Adam Candeub, law professor at Michigan State University said that the forces of the status quo would try to figure out how to stop this takeover from happening.
“Twitter’s owned by shareholders and the directors have to act in a way that’s in their best interests, not in the way that allows them to keep control of the corporation,” he told The Epoch Times.
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