Thread by @SaysDana

I don’t understand why people are shocked. I mean this is how mergers and acquisitions work. You never want to be the company that was merged into. Like Mylan was. The first thing companies do is divest people and buildings and equipment.
1/

https://twitter.com/hamiltonnolan/status/1418215328228823040

Heather did her job as Joe’s daughter. Joe made money when the merger took place if he owned stock. Heather got $20M and she knew the merger would mean people would lose jobs. That’s the way it works.
2/

AND the company did it with profit in mind. They used Reverse Morris Trust to do it with essentially helps when a subsidiary of a parent company wants to merge and create a new company and it’s all TAX FREE if they meet requirements.
3/

It never benefits all the people in the company, just a few. But in this case it seems that closing the location was more profitable then keeping it open. The plans to keep some working is normal and they plan to have it completely closed by next March.
4/

None of this is good. It’s awful for the local community. When you lose companies to anywhere in the U.S. or overseas, it relocates families (I.e. voters) to other states and puts some people at risk. I hope they all invested in 401(k) plans that will help them.
5/

2 weeks severance for every year of work is also pretty normal. That doesn’t help.
Joe knew it was coming, that there is no doubt. So did Justice. They could have offered greater tax breaks or help, but the offset was probably not enough.
Think about this
6/

Joe knew about this long before Joe Biden took office. Joe knew about this when we needed manufacturing for vaccines.
Mylan made Hydroxychloroquine sulfate instead. (March, 2020)
7/

And more interesting to me is that Mylan, Novartis and Teva all stepped up to help. Teva was competing directly with Mylan (at the time of my writing) for the same Epi Pen business and was succeeding due to the help from TFG’s thugs at the FDA
8/

https://twitter.com/SaysDana/status/1030176189653037056

If anyone at Mylan was smart, they saw the writing on the wall (so to speak). Competition was moving into their market (2018) they were working on an FDA approved HIV treatment during that time and the merger made sense.
Heather wanted out with money *(which she got(
9/

Dad, Joe Manchin knew it was coming so wonder if he did anything related to stock (@mrspanstreppon ), and everyone is happy except 1400 union and non-union people who believed that they were making something good for the country (which they were)
10/

Pride in their work, created families and boosted local businesses, schools and all hoping Joe’s connections would save them (which it wasn’t going to do). What do they think of Joe now?
END