Twitter adopts 'poison pill' to prevent Elon Musk takeover

[Spunkylama]

The limited duration shareholder rights plan will expire on April 14, 2023​

Twitter adopts 'poison pill' to prevent Elon Musk takeover

Twitter's board of directors has unanimously adopted a limited duration shareholder rights plan following Tesla CEO Elon Musk's $54.20 per share offer to take the social media giant private.

www.foxbusiness.com

Twitter's board of directors has unanimously adopted a limited duration shareholder rights plan following Tesla CEO Elon Musk's $54.20 per share offer to take the social media giant private.

Ticker	Security	Last	Change	Change %
TWTR	TWITTER INC.	45.08	-0.77	-1.68%
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Shares closed marginally lower on Thursday ahead of the observance of Good Friday.

Under the plan, which is also referred to as a "poison pill", shareholders' rights will become exercisable if an entity, person or group acquires beneficial ownership of 15% or more of Twitter's outstanding common stock in a transaction not approved by the board.

In the event that the rights become exercisable, existing Twitter shareholders — except for the person, entity or group triggering the plan — would be entitled to purchase additional shares of common stock at a discount.

snip

 

[nota bene]

'Not a FINANCIAL decision, it never WAS': Jeff Carlson lays into Twitter for taking #poisonpill to reject Elon Musk in zero-punches-pulled thread

Nobody is all that surprised Twitter turned Elon down. But what IS surprising is how open they now are about controlling the narrative.

twitchy.com

 

[Gateman_Wen]

The limited duration shareholder rights plan will expire on April 14, 2023​

Twitter adopts 'poison pill' to prevent Elon Musk takeover

Twitter's board of directors has unanimously adopted a limited duration shareholder rights plan following Tesla CEO Elon Musk's $54.20 per share offer to take the social media giant private.

www.foxbusiness.com

Twitter's board of directors has unanimously adopted a limited duration shareholder rights plan following Tesla CEO Elon Musk's $54.20 per share offer to take the social media giant private.

Ticker	Security	Last	Change	Change %
TWTR	TWITTER INC.	45.08	-0.77	-1.68%
Powered By

Shares closed marginally lower on Thursday ahead of the observance of Good Friday.

Under the plan, which is also referred to as a "poison pill", shareholders' rights will become exercisable if an entity, person or group acquires beneficial ownership of 15% or more of Twitter's outstanding common stock in a transaction not approved by the board.

In the event that the rights become exercisable, existing Twitter shareholders — except for the person, entity or group triggering the plan — would be entitled to purchase additional shares of common stock at a discount.

snip

A reasonable precaution in my opinion. Radical changes pushed by Musk could well destroy the platform and it's profitability.

 

[DarkWizard12]

A reasonable precaution in my opinion. Radical changes pushed by Musk could well destroy the platform and it's profitability.

it's already destroyed. Twitter is an awful investment, and they know no businessman in their right mind would try to buy it, and that no one is going to offer a better price than musk

 

[MrNiceGuy]

Matt Taibbi with a good take - https://taibbi.substack.com/p/twitters-chickens-come-home-to-roost?s=r