cnbc
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. More
I believe this is the latest development. Looks like someone at Twatter screwed up.
https://beckernews.com/breaking-twitters-board-refuses-to-allow-shareholders-to-vote-on-elon-musks-buyout-may-now-be-sued-44740/
Step right up, step right up, step right up!
Everyone’s a winner, bargains galore!
Get in on the business end of our going out of business sale!
Elon’s playing chess with a bunch of checker players.
Damn this is entertaining.
Makes me think of a very poignant Obi Wan Kenobi quote.
“Who is more foolish, the fool or the fool who follows?”
🍿🍿🍿
From my understanding the very very very last thing twitter wanted to do is refuse the vote. Now they’ve opened themselves up to all kinds of bad things.
Musk has got this. He’s just biding his time until the rats at Twitter jump ship and or turn on each other. He’ll own Twitter, eventually.
Fun watching the left lose what little brain cells they have over not being able to cancel free speech.
I have a couple of questions.
1. A Mutual Fund company is joining in the rush to devalue one of its investments. Why would I want anything to do with that Mutual Fund company? Wouldn’t that be illegal?
2. Wouldn’t the board members also be limited to owning 14.9% stock in the company? Or does that law not apply to fascists?
It sure looks like fiduciary responsibilities are being ignored all over the place.
Elon Musk is similar to Donald Trump. He was really popular with leftists until he acted against their selfish interests. Then he became evil personified. Well, they would think Musk and Trump were evil personified if they believed that evil existed, which they don’t, but you get the idea.
I don’t know if Musk is someone I can really rally around, but when you look at who is against him it kind of makes me want to rally around him. Everyone that is against this is someone I’m against.
He’s exposing the wheat and the chaff.
Now he has to separate it.
Yeah, Musk certainly knew that this was a possibility. Of course he can still buy stock on the open market. Meanwhile Vanguard and Blackrock own more than he does.
Apparently Goldman Sachs had a $30 sell rating, now says $54.20 from Elon is too low. The veil is certainly being lifted, no question about that.
Also, https://youtu.be/rFNCsSBnYVg
$43 billion? Does Twitter even have any capital assets?
Whaa.
They don’t believe in anything but approved (by them) speech. Can’t let an outsider bring freedom of any sort.
If there isn’t a massive class action shareholder lawsuit over this shit, then we absolutely do not live in a capitalist country anymore in any way.
I dunno anything about stock trading, but this move seems incredibly stupid and unlikely to achieve its objective.
“Twitter Deploys “Poison Pill” Strategy”
I just hope it is cyanide. 😉
Maybe Elon is really trying to make Twitter worthless first.
@TheMule April 15, 2022 at 8:42 pm
> we absolutely do not live in a capitalist country anymore
This is exactly what Capitalism(TM) is.
Always was.