this post was submitted on 26 Jan 2024
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yeah I see your point but at that point it's not hostile since I'm pretty sure that Valve has 51% between board members based on their culture and hierarchy.
The definition of "hostile takeover" is getting 51% w/o a formal agreement. So if MS approached everyone independently and got 51%, it's a hostile takeover. And they don't need 51% control through their own entity, they can pay independent people to do so.
I think that's unlikely to happen, but it's possible.