in the past weeks twitter purchaser of shares Tesla CEO Elon MuskA few days ago, he announced that he wanted to buy the entire platform.
It was a matter of curiosity what the Twitter board of directors would decide against Musk’s proposal.
Twitter’s board has implemented a plan aimed at preventing Elon Musk from buying the entire platform.
Twitter said on Friday to prevent Musk from buying it. “poison pill” introduced its policy.
The practice, known as the poison pill in the financial world, is known as a method used by companies to avoid losing their majority shares, and it gives company shareholders the right to purchase additional shares at a discount.
Twitter with this method Musk It prevents people or institutions that want to own the majority of company shares, such as
Musk or any other investorThe poison pill plan, which will come into effect if the company buys more than 15 percent of its shares. stated to be applicable.
Twitter’s plan, according to the statement 14 April 2023 will be valid until
It is evaluated that this measure taken by the Twitter board of directors will not stop Musk’s purchase attempt, but will make the purchase more difficult.
Tesla CEO Elon Musk Recently, Twitter became the largest shareholder of the platform with its share purchases.
While the echoes of being the biggest shareholder of Twitter continued, Elon Musk, the richest person in the world, offered to buy Twitter completely.
Musk offered to pay a total of $43 billion at $54.20 per share.
Moreover your twitter His former shareholders filed a complaint against Musk in New York state court, claiming that Elon Musk had prevented the company’s shares from rising by announcing his share purchase late, and therefore some former shareholders suffered losses.