Twitter board adopts poison pill defense after Musk’s $43 billion bid to buy company

CNBC ^

[OKSooner]

Good point. Maybe that’s why the Joe administration is pulling out all the stops to not let it happen.

[newfreep]

Well that’s a massive breach of fiduciary duties.

Only a fool would believe DNC/Communists would follow the law.

[rktman]

“The plan will expire close to one year from now, on April 14, 2023. However, as Manfredi also noted, it “does not prevent Twitter’s board from engaging with parties or accepting an acquisition proposal if they believe it is in the best interest of the company and its shareholders.”” So why doesn’t the dnc just go ahead with an acquisition of it then. Hey, censors gonna censor.

[Grampa Dave]

It might be time to buy some shares as an 83 year old investor, trying to survive Joe Biden’s inflation, the elites who control Joe Biden, and, those who have mismanaged Twitter.

[TontoKowalski]

As an active user of Truth Social, I can confirm it's growing. Slowly. I see the logic of slower growth, as some of the hitches and glitches I experienced early are evaporating.

So a good number on board, a good number waiting, and it's still only available to Apple users.

Even when Android is available, it won't be as strong in terms of numbers as Twitter, but it will be a force.

[janetjanet998]

As I said before

Another buyer, perhaps an investment form, will come into play this weekend before the stock market opens Monday

Their white night

[Jane Long]

Then, once/if he’s exposed all of this…..what is he left with?

If the govt and DS are the “foundation” of this conglomerate mess, once they disappear, then what?

Massive lawsuit/s??

[princess leah]

I thought that the BIGGEST crime Twitter is guilty of was KICKING A SITTING PRESIDENT OFF A PUBLIC FORUM FOR STATING THE TRUTH!!!!

[dragnet2]

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.

You bet. Many modern corporations are run/owned by nasty controlling leftist with bad intentions.

[usconservative]

And they’ve just breached their fiduciary responsibilities. Let the lawsuits begin.

Nothing will happen because Biden Department of Injustice and the weak SEC are all in the tank for the Socialist Democrats.

Instead, they're going right after Elon Musk.

Funny how the Socialist Democrats always do what they accuse others of, then do their level best to sic the full force of the Federal Government on their political enemies.

[Openurmind]

“Has trump posted anything there?”

It was a stock scam... Even worse, I think it is taking names and making a list.

[Captain Peter Blood]

I’m afraid truth social is not very well done it’s not set up very well it’s not particular user-friendly and it still has a lot of bugs to be worked

[rktman]

Does Elon have any uber rich associates that could acquire 5% chunks and take over that way? I don’t know but it would be awesome. It would be awesomer if a lot of share holders decided to take Musk’s offer. It’ll be a busy weekend for somebody. Kinda like the show Billionaires.

[HamiltonJay]

I don’t think you can beat Musk with a poison pill if he decides to buy.... Even if others can buy highly discounted, Musk can literally pay full list price and keep buying.. if he so chooses.

The question is, what are Elon’s motivations.. if its purely a profit play in the shorter term, this sort of move might convince him to move on...

If his motivation is he truly wants to make sure Twitter is open.... and its more ideological than profit based, he can afford the any short term hit that higher prices might cost him.

[Delta 21]

Blue Horseshoe loves Twitter.

[Red Badger]

Joni loves Chachi...............

[volunbeer]

Let the lawsuits begin.

---

I suspect this is going to get ugly.

Consider the next shoe that may drop when the GOP takes back congress or another whistleblower within twitter drops another truth bomb about the inner deliberation. That will only fuel the lawsuits.

There is also another conundrum to consider that I am unsure if the SEC has ever dealt with....... does “ideology” trump fiduciary responsibility?

[Sarah Barracuda]

Twitter is showing EVERYONE what they really stand for and its not free speech..for them they want to continue what they have been doing til now..banning anyone they disagree with politically..meanwhile Jihadists can post how they are pleased when Jews are slaughtered in Israel so that’s fine, but dont you dare say there are two genders, dont you dare

[Poison Pill]

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

Buy 14.9999% and then use Twitter to ask for the voting proxy of share holders who want free speech on the platform. He'd get 50%. Hell, I'd buy some shares and give hime my proxy.

[Sarah Barracuda]

I cant even create an account on truth social, from day 1, cant get passed the putting in your phone number phase of it, the second I do I get an error message saying “Oops something went wrong try again”