I keep seeing people post that if the Twitter Board rejects Elon's offer, that they will have to resign for violating their fiduciary responsibility to the company.
Who exactly is going to force them to do that?
It's about ideology and control, not profits for these people. Without a legal mechanism that would FORCE them out, I see no reason why they would leave of their own accord. In their mind they ARE doing their duty and protecting Twitter's future.
I think the board’s number one duty is to do what is best for the shareholders…if they reject an offer of $45 per share, while the shares are trading at $25 on the open market, sounds to me that they are delinquent in their duty to the shareholders…they can be forced out with a lawsuit now.