Posted on 04/15/2022 9:45:25 AM PDT by janetjanet998
Twitter adopted a limited duration shareholder rights plan, often called a “poison pill,” a day after billionaire Elon Musk offered to buy the company for $43 billion, the company announced Friday.
The board voted unanimously to adopt the plan.
Under the new structure, if any person or group acquires beneficial ownership of at least 15% of Twitter’s outstanding common stock without the board’s approval, other shareholders will be allowed to purchase additional shares at a discount.
The plan is set to expire on April 14, 2023.
What is plan B?
VIDEO Elon Musk says if this Twitter deal doesn’t work out he has a plan B
https://rumble.com/v10zfkq-elon-musk-says-if-this-twitter-deal-doesnt-work-out-he-has-a-plan-b.html
And they’ve just breached their fiduciary responsibilities. Let the lawsuits begin.
CC
The Twitter Board is bordering on fiduciary neglect.
Get popcorn. Twitter is gonna start taking dark money, deep pockets to save itself. PR is gonna go to sh*t, shareholders will be screwed and lawsuits will fly!
Sue ‘em to forever.
Musk should start his own competitor to Twitter.
In the name of stifling free speech. What is the matter with these people.
https://money.cnn.com/quote/quote.html?symb=TWTR
The institutional ownership is made up of Deep Staters with deep pockets who can pick the taxpayers’ pockets at will.
Or help out Rumble and Trump Media (Truth social)
I hope Twitter tries to fight, loses the fight, Musk gets in, and then Musk runs forensic accounting. “Hey, where did this money come from? Are you guys a CIA operation? Or is it Muslim Brotherhood? Or China? This doesn’t look like any publicly traded company I’ve ever seen ...”
Won’t this dilute the value of Twitter stock?
No one should believe any longer that modern corporations are models of capitalism. They are agents of social change and they will blow up their buildings before they change.
Their dedication to progressive principles and ideological purity at the expense of profitability is admirable. They may be serving as exemplars for the White House in its own similar pursuit at the expense of rapid loss in popularity.
Since he’s a share holder, can’t he sue them?
So, twitter doesn’t care about the shareholders. They could have cashed out and moved to other investments. Now they will get less, and likely the longer they wait the less they will get back.
To bad the left couldn’t have fought that hard to keep manufacturing companies in the US open!!
Any shareholder can sue for breach of fiduciary responsibility.
CC
Well depending on how devious Musk is he could use this to his advantage, quietly get a couple billionaires or investment groups that agree with his plan. Buy up 15% to trigger the “poison pill” where the board starts issuing tons of “discount” stock, have his “straw men” jump in and buy up all the discount stock, with the result that dumping tons of new stock will crater the price of existing stock, then buy up enough to get 50.1% and control of the company at a huge discount.
Market is closed today
I have a hunch other pro twitter firms will also make some kind of offer over the weekend to stop the stock price nosedive monday
And if the Republican party actually represented conservative voters, there would be a bunch of Republican politicians pointing out how we never hear Democrats trashing big corporations anymore, now that Republican voters have embraced populism, and are no longer interested in participating in Uniparty fake wrestling, and cheering for the Koch brothers.
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