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.
Profits don’t matter to the ‘woke’.
Everything.
I think Musk’s offer is fairly safe. I can’t begin to think of how a corporation could sell a $43 billion dollar acquisition to investors, based on keeping the current, failing business model as is.
DOES NOT SOUND LIKE A LEGAL PLAN.
This isn't about free speech. They're trying to keep crimes from being uncovered.
Who knew actual free speech was such a threat!!!
BUYING TIME......................
“I hope Twitter tries to fight, loses the fight, Musk gets in, and then Musk runs forensic accounting.”
All they have to do s run out the clock. Once the midterms are over, they will change their minds and take the money.
Well, real people doing real work is pretty far outside the lib wheelhouse (and interests, AND agenda), as opposed to the Ministry of Truth and Allowed Thought.
BIDEN COULD STEP IN, DECLARE TWITTER A NATIONAL SECURITY DEVICE AND FREEZE THE SALE OF ANY STOCK FOR A TIME.................
Its possible this is directed at Trump. They’re hoping to last long enough to see him depart the national scene.
Like our RINO betters they think things then will get back to “normal”.
Wasn’t that what Truth Social was supposed to be?????????????
Yes. I assume the board thinks that the other shareholders want to keep Musk out so badly they don’t care.
I believe that Musk will sell his stock which will lower the share price dramatically. Then he will repurchase at a lower price. I wish he would do this with precious metals.
I just want to know how much the Pelosi Family Syndicate will make on the deal
The key to opposing the poison pill is whether it goes against the fiduciary responsibility of the board to the shareholders and that argument may hinge on opposition to the clause that would allow shares to be bought “at a discount”, as a means to thwart an investor/investors obtaining more than 15% of Twitter shares. That discount - not a market derived value - would inappropriately allow some board-favored “investors” to obtain shares “on the cheap”, achieving shares valued at more than what everyone else might have paid for the same shares on the open market. It also means shares would be sold, at that discount, meaning less than market value, which, once executed could diminish Twiiter share values in the open market.
Call it BIG BIRD and use an eagle for a logo!
Unlikely that Musk will win. Some liberal oligarchs will step in to save it.
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