Musk takeover

The saga of Elon Musk gets more interesting by the day. Understand that the board of directors of Twitter have a fiduciary responsibility toward the stockholders. This means they must put the interest of the stockholders first. Now it turns out and this is quite unusual that the board members do not own stock in the company. Musk makes an offer that will increase each stockholders value by 30% over night but the board turns down the deal. They are more concerned about their jobs than they are about the stockholders which is a breach of their responsibility. Musk has said that the company is poorly managed and they know their jobs are gone if he take over the company. They are now between a rock and a hard place. If they fight off his takeover bid they keep their jobs but risk getting sued by the stockholders. If they agree to his take over they are out.