On Thursday, when Elon Musk, the world's richest man and Tesla CEO, offered to buy Twitter 100%, it shocked not only the general public but the Twitter board as well. A board meeting was convened in a hurry and a discussion on the matter was started. Now a report says that Twitter has geared up and adopted a new method to beat Musk's plan. So let's know what is the company's plan...
'Poison Pill' Plan Will Stop Musk
According to the report, when it comes to Twitter's new and big bet, the company has adopted a poison pill plan to limit Elon Musk's ability to increase his stake to 9.2 percent in the microblogging platform. Twitter said that this plan can prevent any person or group from holding more than a 15 percent stake in the company by selling more shares at a discount to the shareholders of the company.
way works like this
A poison pill plan is, in effect, a defense strategy used by a company to prevent a potentially malicious takeover by an acquiring company. The company uses this tactic to make itself appear less attractive to the potential acquirer. Talking about the work, the poison pill is generally quite effective and like its name i.e. poison pill. It gives existing shareholders the right to purchase additional shares at a discount, effectively reducing the ownership interests of the party intending to take over.
Big trouble for Elon Musk
This new step taken by Twitter can prove to be a big headache for Elon Musk. According to the report, a limited-time shareholder rights approach adopted by Twitter's board of directors called the Poison Pill could make it difficult for the world's richest man to take over Twitter. The Twitter board has also said in this regard that it has adopted this plan after a legally non-binding proposal to take over the company.
Musk has given this big offer
Significantly, on Thursday, Elon Musk offered to buy 100 percent of Twitter for $ 43 billion (over Rs 3.2 lakh crore). For this, Musk is ready to pay $ 54.20 in cash for every share of the company. Earlier, Musk had bought a 9.2 percent stake in the company. After this, the company as the largest shareholder had offered to include Musk on the board, but Musk turned it down. After this, he immediately offered to buy Twitter completely and also wrote a letter to the board about this.
Musk said a big thing in the letter
In the letter written by Elon Musk to the company board to buy Twitter, he said that Twitter has unlimited potential for the Right to Speech, but in the current situation, the company is not able to make full use of its potential. Twitter needs to be turned into a private company and I want to unlock it. Speaking at the TED conference in Vancouver, he also mentioned his plans after the deal is completed. Under this, if the deal is completed, then big changes can be seen on Twitter.
IndiGo cancels 300 flights across the country today, passengers queue up at airports from Delhi-Mumbai to Hyderabad; read the reason
Air travellers faced significant difficulties on Thursday. More than 300 IndiGo flights were cancelled, causing inconvenience to thousands of passengers. Chaos was witnessed among passengers at many
RG Kar Hospital case: 'Former chief Sandip Ghosh used to trade dead bodies'; serious allegations were made a year ago
Former head of Kolkata's RG Kar Hospital, Sandeep Ghosh, has been accused of selling dead bodies and smuggling biomedicals. Akhtar Ali, the then deputy superintendent of RG Kar College, claims that he
Twitter Logo: The bird flew away, and the dog came, Elon Musk made this change in the Twitter logo
Elon Musk changed the logo of Twitter on Tuesday. Now the dog is visible in the logo instead of the bluebird. Ever since Elon Musk acquired Twitter, he has made many changes. First started the
Turkey returned India's wheat: 17 lakh tonnes of wheat sent abroad were stuck at ports, to fear of damage due to rain
About 17 lakh tonnes of India's wheat is stuck at various ports. It is likely to get worse in the rain. India had allowed the shipment of 469,202 tonnes of wheat abroad since the ban on exports last
'India's situation much better than China', former AIIMS chief Randeep Guleria responds amid outcry in China
Coronavirus Update 21 Dec because of the speed of corona in many countries of the world including China, the government has also become alert. Union Health Minister Mansukh Mandaviya reviewed the
Big decision of the Ministry of Education: Announcement of cancellation of UGC-NET examination, announcement of conducting CBI investigation
NTA, an autonomous agency working under the Higher Education Department of the Ministry of Education, has decided to cancel the UGC-NET examination held on Tuesday. The decision to cancel the exam was
Ruckus in Rajya Sabha over Sanjay Singh's remarks against PM, Deputy Chairman orders removal from record.
During the discussion on the Constitution, there was a lot of uproar in the Rajya Sabha on Tuesday over the comments of AAP MP Sanjay Singh against Prime Minister Narendra Modi. However, when the
Pushpa 2: Allu Arjun had decided not to work in Bollywood for this reason, 'Pushpa' made a big revelation in Mumbai
Allu Arjun won the National Award for his brilliant performance in the 2021 blockbuster film 'Pushpa: The Rise'. Now he is bringing his film 'Pushpa 2: The Rule' on December 5. In a recent event, the
Big action by EC before Lok Sabha elections, Home Secretaries of six states including Bihar-UP removed; The blame also fell on Bengal's DGP
Before the Lok Sabha elections, the Election Commission of India (ECI) has taken a big action. The Election Commission has issued orders for the removal of the Home Secretary in six states Gujarat,
Protest: Suspended MPs ate chicken in front of Gandhi statue in Parliament, Poonawalla said - is it a dharna or a spectacle
The MPs, suspended from the House for a week on allegations of creating ruckus in Parliament, are sitting on a 50-hour protest. These 20 MPs of the opposition have set up a stand in front of the
