Will "Portfolio Primacy" Harm Musk Twitter Purchase?

The SEC’s definition of fiduciary duty allows institutional shareholders to vote against Elon Musk’s Twitter takeover bid thanks to portfolio primacy. Is the Musk takeover of Twitter really a done deal? In a recent interview with Brooke Fox of ProMarket, Oliver Hart, the Nobel prize-winning economist, claimed that the fiduciary duties of investment advisers to […] Read Full Article »