Twitter against Elon Musk

The Twitter Administrative Board prevents the enemy takeover of Musk

(News published today 15th April 2022 on Czech web)

Today, the Twitter Administrative Board adopted a measure in force for one year, which prevents the enemy acceptance of the company by billionaire Elon Musk, was written by Bloomberg.

Tesla's boss and the world's richest man previously offered the Social Networking Operator for more than $ 43 billion (CZK 972.2 billion). There are already 9.2 percent in it. In response, the Management Board of the company unanimously approved a plan that would allow existing shareholders to buy shares with a significant discount in order to dilute the shares of new investors.

This method, which is called "poisonous pill" in the world of finance, suggests that Twitter will fight with Musk to prevent the enemy takeover, lists the Guardian. The plan would enter into force if one of the shareholders received more than 15 percent of the company under the transaction not approved by the Management Board.

Measure should last until 14 April 2023. The Twitter Administrative Council adopted to acquire time, written by Bloomberg with reference to a familiar resource. He wants to have room for analysis and negotiation. It is therefore not excluded that the Musk's offer will eventually accept.

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                                                           Margaret