The social media company has adopted a “poison pill” defense that makes it difficult for Musk or any other investor to buy Twitter without the board of directors' approval. Musk, who currently owns about 9% of the company, last week disclosed an offer of about $43 billion, or $54.20 per share.
Although he said his offer was “final,” Musk may have to raise his bid to satisfy other shareholders. A Saudi prince who is among Twitter's major shareholders scoffed at the offer last week in a tweet. Al Waleed bin Talal said he didn't believe $43 billion is close to Twitter's value given its growth prospects. Twitter shares hit an all-time high of $77.63 in March 2021.
The poison pill essentially would spell the end of Twitter if Musk or another investor acquires 15% or more of the company, said James Cox, a professor of corporate and securities law at Duke University. Twitter's board has information that the average shareholder doesn't, such as earnings or market growth projections, and whether there's reason to believe that the share value is artificially depressed, Talley said. The board, he said, could just hold out.
Social media is now powerful enough to crown presidents and interfere with elections. That level of power is intoxicating to people that want to shape the world, to play God.
Everyone is interested like all of them are board of directors 😜
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Elon Musk launches $41.39 billion hostile takeover of TwitterBillionaire says social media company has extraordinary potential and he will unlock it financialpost The point he is making is US$54.20
Source: VancouverSun - 🏆 49. / 61 Read more »
Elon Musk launches $41.39 billion hostile takeover of TwitterBillionaire says social media company has extraordinary potential and he will unlock it financialpost financialpost As if Twitter didn't have enough problems, now it would be owned by a single person who doesn't need to answer to anyone & can use it to serve his own ends financialpost How about buy food for food banks bit more useful
Source: nationalpost - 🏆 10. / 80 Read more »
Elon Musk targets Twitter board as company adopts 'poison pill'\u0022Board salary will be $0 if my bid succeeds, so that\u0027s ~$3M/year saved right there,\u0022 Elon Musk tweeted in response to a user\u0027s post criticizing the board.
Source: VancouverSun - 🏆 49. / 61 Read more »
Tesla stockholders ask judge to silence Musk in fraud caseA group of Tesla shareholders suing CEO Elon Musk over some 2018 tweets about taking the company private is asking a federal judge to order Musk to stop commenting on the case. Is it just me or does musk look stupid at this event. The look doesnt go well with him Lol
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What options are available to Twitter if board rejects Elon Musk’s takeover offer?Many investors and analysts expect Twitter to reject Elon Musk’s $43-billion acquisition offer in the coming days. Here are some options available to the social media company’s board should it make that move Maybe donate some of the money he was planning to use for kids breakfast programs, building affordable housing or computers in classrooms. That would be a start! *when Twitter est plutôt utilisé pour faire passer ses idées ou des informations en temps réel. Ce dernier est moins utilisé pour communiquer et partager des photos, vidéos entre membres d'une communauté, d'une famille ou entre amis.Pour faire du bon à d'autres personnes,j'appui
Source: globeandmail - 🏆 5. / 92 Read more »
Elon Musk launches $41.39 billion hostile takeover of TwitterBillionaire says social media company has extraordinary potential and he will unlock it financialpost financialpost As if Twitter didn't have enough problems, now it would be owned by a single person who doesn't need to answer to anyone & can use it to serve his own ends financialpost How about buy food for food banks bit more useful
Source: nationalpost - 🏆 10. / 80 Read more »