{"id":432638,"date":"2022-04-15T20:04:27","date_gmt":"2022-04-15T17:04:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/twitter-pushes-back-on-elon-musks-takeover-with-poison-pill\/"},"modified":"2022-04-15T20:04:27","modified_gmt":"2022-04-15T17:04:27","slug":"twitter-pushes-back-on-elon-musks-takeover-with-poison-pill","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/twitter-pushes-back-on-elon-musks-takeover-with-poison-pill\/","title":{"rendered":"#Twitter pushes back on Elon Musk&#8217;s takeover with &#8216;poison pill&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a955f82bd3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a955f82bd3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/twitter-pushes-back-on-elon-musks-takeover-with-poison-pill\/#%E2%80%9CTwitter_pushes_back_on_Elon_Musks_takeover_with_%E2%80%98poison_pill%E2%80%9D\" >&#8220;Twitter pushes back on Elon Musk&#8217;s takeover with &#8216;poison pill&#8217;&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1>&#8220;Twitter pushes back on Elon Musk&#8217;s takeover with &#8216;poison pill'&#8221;<\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> is putting up a fight against Elon Musk\u2019s hostile takeover bid by offering its shareholders the opportunity to buy more company stock at a discounted rate \u2014 a defensive tactic known to investors as a \u201cpoison pill.\u201d<\/p>\n<p>The move was done to make it more difficult for Musk, who currently owns 9.2% of Twitter, from upping his stake in the company to acquire more than 15% of shares.<\/p>\n<p>Musk made a $41 billion all-cash bid for Twitter, saying he wanted to own the firm and take it private in order to restore its commitment to free speech.<\/p>\n<p>The social media platform\u2019s board of directors announced Friday that it has \u201cunanimously\u201d <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved a \u201climited duration shareholder rights plan\u201d that would remain in effect until a year from today.<\/p>\n<p>The plan \u201cwill reduce the likelihood that any entity \u2026 gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium \u2026,\u201d according to the company.<\/p>\n<p>Details of the plan will be specified in a special filing with the Securities and Exchange Commission, according to the San Francisco-based company.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/elon-musk-hostile-takeover-twitter-poison-pill-08.jpg?w=1024\" alt=\"Musk this week made a $41 billion all-cash bid for the social media company.\" class=\"wp-image-21918260\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/elon-musk-hostile-takeover-twitter-poison-pill-08.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/elon-musk-hostile-takeover-twitter-poison-pill-08.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/elon-musk-hostile-takeover-twitter-poison-pill-08.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Musk this week made a $41 billion all-cash bid for Twitter.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>It\u2019s a move that Wedbush Securities tech watcher and Managing Director Dan Ives said is likely to be challenged in court. He called it a \u201cdefensive measure\u201d for the board that would likely not be viewed positively by shareholders, since it could dilute their shares and would be seen as unfriendly to an acquisition move.<\/p>\n<p>\u201cWe believe Musk and his team expected this poker move which will be perceived as a sign of weakness not strength by the Street,\u201d Ives told The Post.<\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> also comes the day after The Post reported that private equity firm Thoma Bravo was exploring a bid to buy Twitter \u2014 setting up a potential competition with Musk.<\/p>\n<p>Musk suggested on Thursday that he was aware it would not be easy buying Twitter and taking it private. \u201cI\u2019m not actually sure I will be able to acquire\u201d Twitter, Musk told a large audience at a TED conference in Vancouver, Canada, on Thursday.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/can-elon-musk-buy-twitter-11649949297?mod=e2tw\">The Wall Street Journal reported<\/a> on Thursday that a \u201cperson familiar with the matter\u201d said the company was planning a \u201cpoison pill\u201d that would dissuade the Tesla boss from completing his takeover bid.<\/p>\n<p>\u201cPoison pill\u201d is a strategy used by a company to prevent a hostile takeover. It usually entails making the company less attractive to the party that seeks to acquire it.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/elon-musk-hostile-takeover-twitter-poison-pill-04.jpg?w=1024\" alt=\"Saudi Prince Alwaleed bin Talal, one of Twitter's largest shareholders, said the board should reject Musk's offer.\" class=\"wp-image-21918259\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/elon-musk-hostile-takeover-twitter-poison-pill-04.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/elon-musk-hostile-takeover-twitter-poison-pill-04.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/elon-musk-hostile-takeover-twitter-poison-pill-04.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Saudi Prince Alwaleed bin Talal, one of Twitter\u2019s largest shareholders, said the board should reject Musk\u2019s offer.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Twitter could thwart Musk by offering to let its shareholders purchase additional shares at a steep discount, diluting the value of the stock and driving up the cost of a potential takeover.<\/p>\n<p>In 2018, the board of Papa John\u2019s pizza restaurants deployed the same strategy to prevent company founder John Schnatter from gaining full control of the firm.<\/p>\n<p>Saudi Prince Alwaleed bin Talal Al Saud, a billionaire who is also one of Twitter\u2019s largest shareholders, tweeted that he will vote to reject Musk\u2019s bid for the company.<\/p>\n<p>In his first public comments since an SEC filing Thursday indicating that he submitted his bid for the company, Musk said making money isn\u2019t the driving force behind the takeover bid.<\/p>\n<p>\u201cThis is not a way to make money, my strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization, I\u00a0don\u2019t\u00a0care about\u00a0the economics\u00a0at all,\u201d Musk said.<\/p>\n<p>The multibillionaire said Twitter needs to adhere to the same freedom-of-speech principles that govern countries. \u201cTwitter has become kind of the de facto town square,\u201d Musk said.<\/p>\n<p>\u201cSo it\u2019s just really important that people have both the reality and the perception that they\u2019re able to speak freely within the bounds of the law.\u201d<\/p>\n<p>When asked why he wanted to buy Twitter, Musk joked: \u201cI don\u2019t know. A little bird tweeted in my ear or something.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/15\/twitter-pushes-back-on-elon-musks-takeover-with-poison-pill\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Twitter pushes back on Elon Musk&#8217;s takeover with &#8216;poison pill&#8217;&#8221; Twitter is putting up a fight against Elon Musk\u2019s hostile takeover bid by offering its shareholders the opportunity to buy more company stock at a discounted rate \u2014 a defensive tactic known to investors as a \u201cpoison pill.\u201d The move was done to make it&#8230;<\/p>\n","protected":false},"author":1,"featured_media":432639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/feat-elon-musk-hostile-takeover-twitter-poison-pill-02.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[128047,126882,39394,4976,10401,70360],"class_list":["post-432638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-15-22","tag-board","tag-elon-musk","tag-social-media","tag-twitter","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=432638"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/432639"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=432638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=432638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=432638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}