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.
> I assume the board thinks that the other shareholders want to keep Musk out so badly they don’t care.
That kind of poison pill can backfire in so many ways...I can hardly wait. I’m tempted to buy twitter shares so I can assign my proxy to Musk with the pot starts to boil...
Theatrics. Musk already stated this was a one-time offer, take it or leave it. All Twitter had to do was refuse it.
I think the board has to put the offer before the shareholders for a vote
I think the board has to put the offer before the shareholders for a vote
Poison pill for a poisoned forum. Nice...
My error. Not that GS may be looking at the 52-week high, but the Twitter Board.
Why does not Elon start his own social medium ?
Why does not Elon start his own social medium ?
He may
but it takes a lot of infrastructure to do it, and most of the current infrastructure is owned by big tech
yo have to physically build it
Rumble/Truth social has a head start and are using their own..his best bet IMP is to work with them
if I were a Twitter shareholder and shares did not hit at least $54.20 per share, I’d sue the board for breach of its fiduciary duty to the shareholders.
“Won’t this dilute the value of Twitter stock?”
totally!
Thanks for the clarification.
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