Twitter adopts 'poison pill' to prevent Elon Musk takeover

[Utilit99 4,099]

https://www.foxbusiness.com/markets/twitter-poison-pill-elon-musk

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. 

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, shareholders will be entitled to purchase additional shares of common stock at a discounted rate. 

The board says the plan "is intended to enable all shareholders to realize the full value of their investment in Twitter" and will "reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interests of shareholders."

The plan, which will expire on April 14, 2023, does not prevent Twitter's board from engaging with parties or accepting an acquisition proposal if they believe it is in the best interest of the company and its shareholders.

 

Musk's $43 billion bid comes less than two weeks after he disclosed a 9.2% stake in Twitter on April 4. Though Musk was initially invited to join Twitter's board, he later declined the offer. As part of joining the board, Musk would've been unable to own more than 14.9% of Twitter's stock while serving on the board or for 90 days after. Musk's board term would have expired at Twitter’s 2024 annual meeting.   

[TimmySmith 2,782]

Their psychosis is full on.  The purpose of shares and shareholders is capitalism. Used to be at least.

[Utilit99 4,099]

8 minutes ago, TimmySmith said:

Their psychosis is full on.  The purpose of shares and shareholders is capitalism. Used to be at least.

It's over the top mental illness. 

[cyclone24 1,900]

9 minutes ago, TimmySmith said:

Their psychosis is full on.  The purpose of shares and shareholders is capitalism. Used to be at least.

Liberals are psychotic? Who would’ve guessed? The part I’m curious about is musk Shirley has factord this possibility in and has a counter move. I just can’t imagine what it will be

[wiffleball 4,725]

It's actually the morning after pill.

[Gepetto 1,113]

It's a damn app.  I wish there was a way earning money on the internet could have been prevented except for providing actual goods.

[Cdub100 3,606]

eli5

[Big Guy 1,400]

41 minutes ago, Utilit99 said:

https://www.foxbusiness.com/markets/twitter-poison-pill-elon-musk

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. 

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, shareholders will be entitled to purchase additional shares of common stock at a discounted rate. 

The board says the plan "is intended to enable all shareholders to realize the full value of their investment in Twitter" and will "reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interests of shareholders."

The plan, which will expire on April 14, 2023, does not prevent Twitter's board from engaging with parties or accepting an acquisition proposal if they believe it is in the best interest of the company and its shareholders.

 

Musk's $43 billion bid comes less than two weeks after he disclosed a 9.2% stake in Twitter on April 4. Though Musk was initially invited to join Twitter's board, he later declined the offer. As part of joining the board, Musk would've been unable to own more than 14.9% of Twitter's stock while serving on the board or for 90 days after. Musk's board term would have expired at Twitter’s 2024 annual meeting.   

They obviously want NOTHING to do with free speech or profits 

[IGotWorms 3,759]

Nothing all that unusual about this move, though the legality seems super questionable. How is this not a violation of SEC rules or antitrust laws or something like that? Seems like you’re definitely opening yourself up to a shareholder action as well.

[IGotWorms 3,759]

29 minutes ago, cyclone24 said:

Liberals are psychotic? Who would’ve guessed? The part I’m curious about is musk Shirley has factord this possibility in and has a counter move. I just can’t imagine what it will be

My guess is he doesn’t actually want Twitter and he’s just being a troll

[KSB2424 3,096]

Just now, IGotWorms said:

Nothing all that unusual about this move, though the legality seems super questionable. How is this not a violation of SEC rules or antitrust laws or something like that? Seems like you’re definitely opening yourself up to a shareholder action as well.

Why would a company board not want to make the shareholders money and not even give them the option to vote?  

[IGotWorms 3,759]

Just now, KSB2424 said:

Why would a company board not want to make the shareholders money and not even give them the option to vote?  

I dunno but it’s pretty typical to resist a “hostile takeover.” I guess the reason would be you think you can grow the company more so you’re not looking to cash out now, even at what is currently a favorable price?

[TimmySmith 2,782]

1 minute ago, IGotWorms said:

My guess is he doesn’t actually want Twitter and he’s just being a troll

I sort of agree with this. He has the fu money to see what he can do, have fun, and bail.  But he knows that legally, twitter has to respond to all of his shenanigans. They are spending a ton of money to do so.  And then when he sells, the stock will plummet.  

[IGotWorms 3,759]

Just now, TimmySmith said:

I sort of agree with this. He has the fu money to see what he can do, have fun, and bail.  But he knows that legally, twitter has to respond to all of his shenanigans. They are spending a ton of money to do so.  And then when he sells, the stock will plummet.  

I don’t understand why he isn’t vilified for this kind of behavior. He just likes to fock sh1t up, which isn’t very helpful especially in a capitalist sense. I understand righties don’t like Twitter but it’s still poor form

[Cdub100 3,606]

4 minutes ago, IGotWorms said:

I don’t understand why he isn’t vilified for this kind of behavior. He just likes to fock sh1t up, which isn’t very helpful especially in a capitalist sense. I understand righties don’t like Twitter but it’s still poor form

I said in the other thread I don't trust Elon.

[IGotWorms 3,759]

2 minutes ago, Cdub100 said:

I said in the other thread I don't trust Elon.

I don’t think anyone should. Just an Uber-rich guy behaving badly, imo, and I don’t care what his politics are (not that I even really know with him)

[jonmx 1,796]

17 minutes ago, IGotWorms said:

I don’t understand why he isn’t vilified for this kind of behavior. He just likes to fock sh1t up, which isn’t very helpful especially in a capitalist sense. I understand righties don’t like Twitter but it’s still poor form

Vilified for what?  Believing and trying to advance free speech?  Oh the horrors. The only people that terrifies are brain-dead liberals.  Please excuse the redundancy. 

[cyclone24 1,900]

2 minutes ago, jonmx said:

Vilified for what?  Believing and trying to advance free speech?  Oh the horrors. The only people that terrifies are brain-dead liberals.  Please excuse the redundancy. 

It’s crazy. Musk scares them because he wants freedom of speech but has no problem with a Bezos and the Washington post.

[Utilit99 4,099]

12 minutes ago, IGotWorms said:

I don’t think anyone should. Just an Uber-rich guy behaving badly, imo, and I don’t care what his politics are (not that I even really know with him)

What do politics have to do with free speech? Free speech is free speech. You don't have to be a politician or involved in politics to understand it's a basic American right. 

[IGotWorms 3,759]

1 minute ago, Utilit99 said:

What do politics have to do with free speech? Free speech is free speech. You don't have to be a politician or involved in politics to understand it's a basic American right. 

It’s not literally a first amendment thing with a private company—that only applies to government action. But yeah, I like the concept of free speech of course, I just don’t really trust him when he claims that’s what he’s doing. I suspect it’s just as much, if not more, driven by money, power, ego, etc

[cyclone24 1,900]

12 minutes ago, IGotWorms said:

It’s not literally a first amendment thing with a private company—that only applies to government action. But yeah, I like the concept of free speech of course, I just don’t really trust him when he claims that’s what he’s doing. I suspect it’s just as much, if not more, driven by money, power, ego, etc

Of course but that’s why anybody gets into business. I don’t have any problem with that. Make every dime you can. I just start having a problem when the rules arent the same for everybody based off of political viewpoints. 

[RaiderHaters Revenge 3,860]

16 minutes ago, IGotWorms said:

It’s not literally a first amendment thing with a private company—that only applies to government action. But yeah, I like the concept of free speech of course, I just don’t really trust him when he claims that’s what he’s doing. I suspect it’s just as much, if not more, driven by money, power, ego, etc

twitter seems to be a private company but in reality it isnt, when they act as a public forum for all things politics yet block discussion from one side and hide stories negative to the other, they are getting involved in politics

Trump is banned yet Putin is not, The Shah of Iran is not, the Taliban is not.  Why is that.  They don't like conservative politics is all, nothing he said is worthy of blocking, hell he pushed the stupid jab for a matter of fact

 

[Utilit99 4,099]

14 minutes ago, RaiderHaters Revenge said:

twitter seems to be a private company but in reality it isnt, when they act as a public forum for all things politics yet block discussion from one side and hide stories negative to the other, they are getting involved in politics

Trump is banned yet Putin is not, The Shah of Iran is not, the Taliban is not.  Why is that.  They don't like conservative politics is all, nothing he said is worthy of blocking, hell he pushed the stupid jab for a matter of fact

 

Well said. 

[TimmySmith 2,782]

1 hour ago, IGotWorms said:

I don’t understand why he isn’t vilified for this kind of behavior. He just likes to fock sh1t up, which isn’t very helpful especially in a capitalist sense. I understand righties don’t like Twitter but it’s still poor form

What is he doing that is worth being vilified?

[Utilit99 4,099]

7 minutes ago, TimmySmith said:

What is he doing that is worth being vilified?

He bought stock in a company and offered to buy it out? And he is pro free speech? 

I think worms is losing his mind. 

When worms left for a while, he had been nuts prior to that. Then when he came back he came across quite normal. Someon even commented "I like this version of worms."

Now he is just going nuts again.

[jonmx 1,796]

1 hour ago, IGotWorms said:

It’s not literally a first amendment thing with a private company—that only applies to government action. But yeah, I like the concept of free speech of course, I just don’t really trust him when he claims that’s what he’s doing. I suspect it’s just as much, if not more, driven by money, power, ego, etc

The principle of free speech is bigger than our first amendment constitutonal protections.  Free speech and equality are two concepts we should all agree upon.  But is a hard no from modern liberals. 

[Utilit99 4,099]

 This shlt is hilarious. 

https://www.foxnews.com/media/twitter-liberals-elon-musk-twitter-takeover-nazis-extremism-ww3

Twitter liberals draw comparisons between Elon Musk and Nazis, extremism, World War 3

 

Some blue-check Twitter liberals have voiced their outrage at news that Elon Musk had made an offer to purchase the tech giant, with a few making comparisons between the possible hostile takeover to Nazi Germany, far-right extremism and the end of the world. 

City University of New York Professor Jeff Jarvis likened the day of the announcement on Twitter to the final days of Germany’s government before the Nazis came to power.

The tweet said this: "Today on Twitter feels like the last evening in a Berlin nightclub at the twilight of Weimar Germany."

But Jarvis was far from the last to liken a potential tech company purchase to genocidal governments or violent political extremism. Some even predicted that a Musk-run Twitter could spell the end of democracy—or even the world. 

Michael Volpe, the founder of Opera Holland Park who also hails himself as a "blocker of covidiocy," tweeted out on Thursday that a Twitter purchase by Musk would mean "the end of the world basically" and claimed that the Tesla CEO would "amplify every extremist right wing nazi" he could find.

MSNBC host Joy Reid, responding to a video of a story on a lawsuit that ordered Tesla to pay over 100 million dollars to a Black employee who claimed racial abuse, said this: "They want that old thing back, where nazis with green frog icons and Q-anon nuts and Trump and his Russian-bot-fueled MAGA hoard could swarm and harass people on this platform, rather than being confined to Gab and "Gettr" and Russian disinformation flowed freely. They NEED it."

Left-wing journalist David Leavitt, who has previously written for CBS and Yahoo, said Musk’s purchase could lead to "World War 3" and the destruction of earth. 

 

LinkedIn Learning instructor, Morten Ran-Hendriksen chimed in on the discussion and warned that Musk’s offer could plunge the platform into "disinformation and far-right extremism," while the Washington Post's Max Boot wrote he was "frightened" on whether democracy could survive with an owner of Twitter who didn't want "more content moderation." 

 

 

 

LinkedIn Learning instructor, Morten Ran-Hendriksen chimed in on the discussion and warned that Musk’s offer could plunge the platform into "disinformation and far-right extremism."

 

[Bill E. 688]

1 hour ago, IGotWorms said:

I don’t understand why he isn’t vilified for this kind of behavior. He just likes to fock sh1t up, which isn’t very helpful especially in a capitalist sense. I understand righties don’t like Twitter but it’s still poor form

What sh1t has he focked up?  Tesla?  SpaceX?   I can see why the left would want to keep banning people for tweeting about Hunter Biden, saying the election was tampered with by potentially illegal rule changes, saying masks don't work or saying the words "China Virus".  Are future Twitter bannings what you are afraid Musk might fock up? 

[Bill E. 688]

19 minutes ago, Utilit99 said:

 This shlt is hilarious. 

https://www.foxnews.com/media/twitter-liberals-elon-musk-twitter-takeover-nazis-extremism-ww3

Twitter liberals draw comparisons between Elon Musk and Nazis, extremism, World War 3

Good God those people are crazy.  And they can tweet that sh1t all day long. 

 

 

[RaiderHaters Revenge 3,860]

funny thing is that all these leftists cry global warming and electric cars, and Musk is single handedly the biggest promoter of it, hes also very pro LGB alphabet

 

[Utilit99 4,099]

2 minutes ago, Bill E. said:

Good God those people are crazy.  And they can tweet that sh1t all day long. 

Yeah. It's hard to believe they are real. How can people be that lost in life? 

[Utilit99 4,099]

3 minutes ago, RaiderHaters Revenge said:

funny thing is that all these leftists cry global warming and electric cars, and Musk is single handedly the biggest promoter of it, hes also very pro LGB alphabet

 

 Seriously, what more can be said. 

[Bill E. 688]

2 hours ago, Big Guy said:

They obviously want NOTHING to do with free speech or profits 

That like was me.

[Bill E. 688]

1 minute ago, Utilit99 said:

Yeah. It's hard to believe they are real. How can people be that lost in life? 

They will be the ones "caring" for us at a nursing home some day.   Please find me and shoot me if it ever comes to that. 

[Utilit99 4,099]

Just now, Bill E. said:

They will be the ones "caring" for us at a nursing home some day.   Please find me and shoot me if it ever comes to that. 

We can Alec Baldwin each other.

worms can blame some costume lady for our killing each other. 

[Hardcore troubadour 13,571]

1 hour ago, IGotWorms said:

It’s not literally a first amendment thing with a private company—that only applies to government action. But yeah, I like the concept of free speech of course, I just don’t really trust him when he claims that’s what he’s doing. I suspect it’s just as much, if not more, driven by money, power, ego, etc

Come on. Call him a racist. You know you want to. 

[Mike Honcho 4,446]

If he want's to save $42,999,999,900, he could buy Truth Social instead.

[IGotWorms 3,759]

You guys are dumb. I’m saying the guy is a douche and nobody knows his real motivations. It ain’t political at all 

[Utilit99 4,099]

9 minutes ago, IGotWorms said:

You guys are dumb. I’m saying the guy is a douche and nobody knows his real motivations. It ain’t political at all 

Why are you calling him names? And then say you have no clue of what his motivation is. 

[KSB2424 3,096]

He’s African American too.