The Twitter Board adopted a poison pill on Friday to make it difficult for Elon Musk to increase his stake in Twitter beyond 15%. He currently owns 9%, The Wall Street Journal reports.
The Twitter employees and the government don’t want Musk in control of free speech, and they are desperate. The media is all in as well. They couldn’t care less than an anti-free-speech Saudi Prince shareholder rejected Musk’s offer. However, they are distraught that a free speech supporter wants to buy it.
Poison pills, also called shareholder-rights plans, are legal maneuvers that make it hard for shareholders to build their stakes beyond a set point by triggering an option for others to buy more shares at a discount. They are often used by companies that receive hostile takeover bids to buy themselves time to consider their options.
Are they buying time or waiting for the government to move in on Musk? This move weakens the company and could harm shareholders. They don’t care.
The WSJ reported such a move was in the offing and it drove the Twitter stock down, -1.68%. The stock is now down -3.66% at 12:43 pm.
Why would a ‘capitalist’ corporation refuse a huge financial benefit to investors? And why would the DOJ and SEC launch an investigation the same day Musk moved to buy the company?
Who in the government is behind this in the end? To the Sentinel, it looks like the intelligence agencies that don’t want free speech. They have a serious stake in keeping the propaganda and the control going.
This seems right:
Twitter is hoping to frustrate Elon out of his offer by imposing roadblocks like a post-offer poison pill. This is a defense tactic.
3 likely outcomes:
1. Twitter ends up in a shareholder derivative suit for breach of fiduciary duty for not properly evaluating the entire (1)
— BowTiedRanger (@BowTiedRanger) April 15, 2022
If you’re a Twitter board member, you’re going to have alot of sleepless nights coming up. (3)
— BowTiedRanger (@BowTiedRanger) April 15, 2022
Then there’s this:
VanGuard takes a majority shareholder stake.
Majority shareholder of VanGuard is Black Rock.
Black Rock is run by a guy named Lawrence Fink who is an advisor to The World Economic Form.
Laurence D. Fink – Agenda Contributor | World Economic Forum— DWheel🍊 (@WDon82) April 15, 2022
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