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.Such a move is a common way to fend off a potential hostile takeover by diluting the stake of the entity eying the takeover.
"The Rights Plan will reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interests of shareholders," the company said in a press release.
Twitter noted that the rights plan would not prevent the board from accepting an acquisition offer if the board deems it in the best interests of the company and its shareholders.
So board is more into political ideology than stock price ? Seems we all can see the truth now (was pretty evident?
I say let him buy twitter then we all leave the platform and encourage the recipients of that $43b to invest in a new platform and we all join that and tank the musk twitter so he would be $43b poorer for nothing
The board is filled with selfish guys not working for shareholders
Elon will now buy them cheap
Rigged game.
TwitterBoardPoisonPill 1 - $TWTR AntiFreeSpeech. Do they think we r 2 dumb to figure out what people are tweeting? 2 - Orwell already dealt w this. 3 - Twitter BOD don't wanna get fired 4 - elonmusk = greatest American 5 - Biden Congress Oy. 6 - Putin Pravda winning
Stock is going under $30 a share soon.
Musk needs to buy Truth Social, it’s in the Clearance isle.
$TWTR board (probably) : 'You're out of line Mr. Gekko...I mean Musk!'
Should be titled “Twitter board strongly promotes Zombie Companies in defense of all companies against turning a profit with the objective to slowly die”
The board is scared to lose control of their precious liberal narrative right before midterms!! SHIB
If one of Elon’s objectives was to expose the bias and corruption of big media and big tech to millions of people - he succeeded big time. The reactions of these organizations tells you everything you need to know.
It will be interesting to see if there are counter lawsuits here for not allowing the shareholders to vote. Sounds like something the shareholders need to decide and not the board!
Twitter is not worth the effort if elonmusk opts out of owning it! I wonder how many present users would leave?
So, dilute the stock and erode shareholder value, all in the name of putting a stop to free speech? This will end in a massive lawsuit against $TWTR. One in which they have no chance of winning. All of this just so $TWTR can continue with their censorship policies.
schwartzbCNBC Interesting that the board can adopt such a plan without shareholder approval.
WholeMarsBlog How is this supposed to work? If Elon buys up to the 15% forcing the poison pill to go into effect. Since he is a share holder he is included in the group allowed to just buy even more TWTR at a discount price. 1/2
Cannot wait to dump all my Twitter stock on Monday
So beneficial to share holders!! 🤣 idiots
Plot twist: Elon is no longer the largest shareholder. 🤣
Can his wife buy 14.9%? That would get him close to 30% and then only needs 20% to boot the board.
And Twitter's stock will drop to ten bucks
Musk, who is a clever boy, just wanted to buy a big part of Twitter,suggested to buy the whole company, and will sell his share with a profit. Considering his antecedents, it was presumably his main objective.
FuturistDog Yahoo moment
It’s Elons move. Buy another social media platform and beat twitter at their own game? Jump to another platform and many users will follow?
I've only made us Twitter accounts to follow Elon Musk because I buy Tesla's and everything he sell I'm deleting my account just like 350 million people in America
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