this post was submitted on 03 Oct 2024
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Showerthoughts
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Not that they are blameless - far from it - but they had a fiduciary responsibility to pursue the deal because it was good for their shareholders
That’s not the case at all, though it’s very often believed to be and stated as such on here and Reddit.
https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits
https://web.archive.org/web/20240529061049/https://skeptics.stackexchange.com/questions/8146/are-u-s-companies-legally-obligated-to-maximize-profits-for-shareholders