According to the document, the board is urging investors to meet as soon as possible – although the exact date has not been specified – and vote in favor of the takeover bid. The company stated in the document that “the adoption of the merger agreement by our shareholders is the last condition required for the completion of the merger under the merger agreement, and it is an important and required step for our shareholders to receive the consideration for the merger.” In other words: the company seems to be trying to expedite the process of obtaining the agreement from its side, so that when it goes to court to hear its claim against Musk it can show that it has completed all the steps required to complete the agreement, and Musk is ostensibly trying to outwit obstacles.
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The company tried to spur investors on the hint that this was an opportunity not to be repeated: it noted that the price offered by Musk – $ 54.20 per share – was about a third higher than before the acquisition of the controlling shares by Tesla founder and CEO, adding that this price is one third higher than the current share price. , Which implies that there is no chance that investors will ever get more than a Musk offer on their shares in a company that is closing about a decade and a half of losses, without any sign of a change in trend.