As we’ve been following, Elon Musk has ideas for buying the social network Twitter. Musk is willing to pay $54.20 (about 50 euros) per share in cash, which gives a total of $43 billion (about 40 billion euros).
However, Twitter has already taken steps to protect itself and has activated the “poison pill”. know what it is.
In a letter sent to Twitter's managing director, Brett Taylor, Elon Musk claims he has invested in the social network because he believes in the platform's "potential" to guarantee the right to freedom of expression around the world. Musk also plans to delist the company from the New York Stock Exchange. "This is the last and best offer I can make, and if it is not accepted, I will have to consider my position as a shareholder," he added.
Twitter activates poison pills! what do you mean?
A Poison Pill is a shareholder equity plan, also known as a "poison pill," a type of defense tactic used by a company's board of directors against a buyout.
This procedure gives shareholders the right to purchase additional shares of the company at a discount, thereby weakening the equity of the hostile party.
The measure, now in place, aims to make it difficult for Musk, who already owns 9% of the capital, to buy more than 15% of Twitter shares.
According to a statement issued by the company, the board of directors unanimously adopted a "rights plan", which "aims for all shareholders to receive the full value of their Twitter investment."
The Rights Scheme will reduce the potential for any entity, person, or group to gain control of Twitter through open market buying without paying the premium to all shareholders owed to shareholder control or without giving the Board of Directors sufficient time to make informed decisions and implement actions. that defends the interests of shareholders
This action, which is legal and expires within one year, does not mean that the board of directors cannot accept or consider the proposal to take over the company, and sets out the same information memo sent by Twitter.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.