OpenAI's Governance Overhaul to Prevent Hostile Takeover
JD Supra: Mergers
FEBRUARY 28, 2025
Strengthening Board Control - OpenAI is exploring governance changes that would grant its nonprofit board enhanced voting rights to prevent a hostile takeover by Elon Musk. This move follows Musks $97.4 billion bid, which was rejected by OpenAIs board, and his legal efforts to block its transition to a for-profit entity.
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