Twitter Board Adopts ‘Poison Pill' After Musk's $43 Billion Bid to Buy Company

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Twitter Board Adopts Poison Pill After Musk's $43 Billion Bid to Buy Company

In a live-streamed interview at the TED2022 conference in Vancouver on Thursday, Musk laid out his vision for making Twitter's algorithms more publicly accessible and limiting content moderation.

He also acknowledged he's"not sure" if he'll actually be able to buy Twitter, though he said he does have"sufficient assets" to fund the deal if accepted. Despite his fortune, Musk has much of his assets tied up in equity in his companies including, meaning he'd likely have to liquidate or borrow against his assets to come up with a large sum.

But Musk said"there is" a Plan B if his initial offer to buy the company and take it private, which he called his"best and final," is rejected. He declined to provide further details in the TED interview. On Friday, Twitter's former CEO and current board member Jack Dorsey tweeted that"the real issue" is that"as a public company, twitter has always been 'for sale.'"

 

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Twitter board adopts poison pill after Musk's $43 billion offer to buy companyThe board voted unanimously to adopt the plan. 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 FuturistDog Yahoo moment
Source: CNBC - 🏆 12. / 72 Read more »