Twitter’s Board Has Adopted What’s Being Called a ‘Poison Pill’ Defense to Prevent Elon Musk From Buying It

elon musk twitter

 

The wealthy Telsa founder Elon Musk made a $43 billion bid to buy Twitter this week, leading to speculation that he could become on of the first major CEOs of three separate companies in recent history.

Now, Musk is on the attack, reportedly mocking the social media giant’s Board of Directors after they moved to adopt a so-called ‘poison pill’ strategy in an attempt to block him from executing his takeover strategy.

The news has made headlines across the world, and was preceded by an unusual situation regarding Musk and his use of the popular social media service.

Musk Went ‘Radio Silent’ on Twitter for Nearly 24 Hours Prior to the Big News 

elon musk twitter

Musk is typically one of the more active users on Twitter among big-name influencers and celebrities, but he went completely ‘radio silent’ for nearly 24 hours prior to the big news, according to reports.

On Friday, Musk responded with a laughing emoji to a version of the classic ‘Distracted Boyfriend’ meme, mocking Twitter’s board as a response to their new plan to keep the Tesla and SpaceX mogul on the outside looking in. 

The imaged depicted ‘Twitter’s board’ looking wistfully at the option to ‘keep that easy gig that gives me shares’ as ‘Twitter investors’ look on with disgust because they are ‘happy with $54.20 a share’, the amount of Musk’s bid.

Twitter’s New ‘Poison Pill Strategy’ Revealed — Are Musk’s Plans Null and Void?

elon musk twitter 

The news came after Twitter’s board announced its dramatic new ‘poison pill’ plan to prevent Musk from increasing his stake in the company any further.

The plan has been given the nefarious name by media outlets worldwide, and details Twitter’s reported intention to “trigger a dilution of company shares’ if “any shareholder builds up a 15 percent stake without the board’s approval.

The plan doesn’t prevent Twitter from accepting his offer or from entering other negotiations with interested parties, but it would stop him from putting pressure on the board to sell by buying up more shares on the open market, a report from The Daily Mail said.

So, what do you think? Will Elon end up getting his way, or will Twitter fold and give in to his lucrative offers?

 

 

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