this post was submitted on 13 Feb 2025
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Could they not refuse because they simply don't want to sell?
Shareholders can sue if the board doesn't do the thing that will maximize shareholder value. Probably the basic underlying problem with companies that sell stock.
What shareholders?
In a way they can but the rich live in a very weird world of pretend so depending on what their answer is there may be pretend consequences and altered perception of their worth.
Altman responded that simply their charter of "for benefit of all man kind" is enough reason to decline but he carefully mentioned that the actual bidding price would not matter to come to that decision. He is friends with fascists but not stupid.
This is not how the US works. Your assets belong to me now.
Oh, okay... Can I visit them on the weekends?
Only if you buy them, me, my SO and theirs lunch. And no cheap shit! Olive Garden minimum. Gods do I love breadsticks!