Skip to main content

Posts

Showing posts with the label Twitter poison pill

Twitter Adopts "Poison Pill" To Fight With Elon Musk Takeover

  New Delhi: In a bid to counter Elon Musk's takeover of Twitter, board of contradicting microblogging website unanimously adopted 'poison pill' or investor rights set Friday, Reportable News Organization AFP. The rights established by the board may inherit the impact if a buyer acquires a fifteen percent or more interest in the outstanding shares of Twitter in a deal not approved by the board. "The rights configuration may reduce the likelihood that any entity, person or group will gain control of Twitter through open market accumulation without paying all shareholders an acceptable management premium," Twitter said in a statement. The world's richest person and Tesla and SpaceX CEO Elon Musk on Thursday announced an unsought partner offer to amass Twitter, stating that promoting free speech on the social media platform is his "best and last offer". He went a step further by giving $54.20 per share, making the social media platform's valuation a