Depends on the shareholder agreement and how the board fits into that.
By default it would be something like - if the board approved it goes to a shareholder vote, and if 75% or 90% of the shareholders approve the rest are dragged.
I doubt the board can force all shareholders to sell, that would be an insane power position for shareholders
This is informative, thank you. I wonder what portion of Twitter investors are index fund companies like like Vanguard and "institutional investors" like pension funds that are unlikely to object. And obviously Elon himself is a ~10% shareholder. Seems likely that this would pass a vote easily.
That's actually crazy to think about... so besides Elon, only 11.6% of shares are privately held? Meaning Elon holds about half of all privately held shares? Unless somehow he is in the 78.4% but I don't think so.
By default it would be something like - if the board approved it goes to a shareholder vote, and if 75% or 90% of the shareholders approve the rest are dragged.
I doubt the board can force all shareholders to sell, that would be an insane power position for shareholders