Twitter it will not be climbed by Elon Musk: the board of directors of the social platform has announced that it will react to the acquisition attempt using the Poison Pill system, literally a poisoned pill.
We know that Elon Musk wants to buy Twitter by offering $ 54 per share, which is why the company will use one financial maneuver designed for hostile takeovers, which allows some shareholders to increase their stakes.
The board of directors will therefore try to protect itself by putting this mechanism into practice, and apparently has already submitted a plan to this effect to the American Securities and Exchange Commission. A few days ago it was reported that Musk bought shares of Twitter equal to 9% of the total, becoming the most significant shareholder. Tesla’s founder, however, declined the invitation to join the board of directors, which would have prevented him from going beyond 15%.
Asked why he is interested in the social platform, Musk said he invested in Twitter because he was convinced of its potential, “which is to be the perfect platform for free speech worldwide.”
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