I wonder what stops Musk from buying 14.8%, and then lending money to a few friends who each buy 14.8% and agree to vote in his interest? If there is just a gentleman's agreement between them, then he would not be considered the beneficial owner?
Then they could replace the board, repeal the shareholder rights plan, and the friends would pay back Musk's debt in Twitter shares.
This is such an obvious loophole, surely there is a legal provision against it?
I genuinely wonder if Elon Musk has friends, in the same way that you or I mean the word. I’m sure he has a great many people trying to get close to him, but when there’s such an obvious incentive for the other party I can imagine it being hard to trust anyone.
Then they could replace the board, repeal the shareholder rights plan, and the friends would pay back Musk's debt in Twitter shares.
This is such an obvious loophole, surely there is a legal provision against it?