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Twitter adopts 'poison pill' to prevent Elon Musk takeover (1 Viewer)

Spunkylama

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



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.

TickerSecurityLastChangeChange %
TWTRTWITTER 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
 

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



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.

TickerSecurityLastChangeChange %
TWTRTWITTER 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.
 
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
 

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