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.
Gujarat Rain: The situation in Gujarat has become uncontrollable due to floods, so far 61 killed; PM Modi sent teams from the center
Prime Minister Narendra Modi spoke to CM Bhupendra Patel over the phone amidst the deteriorating situation due to heavy rains in Gujarat and floods in many districts. It was told by the Gujarat CM's
Delhi Kanjhawala Death: Sixth accused also arrested, after crushing Anjali, he told the way to escape
Delhi Police has arrested the sixth accused in the Kanjhawala case of the Sultanpuri police station area. According to the police, the car belonged to Ashutosh, through which the entire incident was
IPL 2023: Yashasvi broke the record of a fastest half-century, Rahul praised, Kohli said – best batting ever
In IPL 2023, the match was played between Kolkata Knight Riders and Rajasthan Royals on Thursday. In this match, Rajasthan won by nine wickets. RR's team achieved the target of 150 runs in 13.1 overs
Infosys Shares Price: Bad news for Infosys investors, shares fell up to 15 percent; Q4 earnings did not benefit
A piece of bad news has come for the investors of the IT company Infosys. Shares fell nearly 15 percent in morning trade on Monday, leaving the company with a loss of Rs 73,060 crore. The company also
IPL 2024: Who is the 'mystery girl' of Gujarat Titans? VIDEO sets social media on fire; Users gave many reactions
In IPL, the camera always keeps an eye on finding beautiful faces. In the current season, many such viral pictures were seen on social media, in which a female fan came to watch the IPL
Russia-Ukraine War Updates: So far 213 Ukrainian children killed in the Russian attack, US Secretary of Defense reached Kyiv to meet Zelensky
The Russia-Ukraine war has been going on for more than two months, but the heat of the war is increasing instead of decreasing. Ukraine's ombudsman says 213 children have been killed and 389 injured
Reasi Attack: Three Pakistani terrorists involved in Jammu attack, American M-4 rifle used; Search for terrorists continues
Three Pakistani terrorists of Lashkar-e-Taiba were involved in the attack on a bus full of devotees returning from Shivkhodi Dham. Lashkar commander Abu Hamza is also suspected to be involved in this.
Shock to UN!: Meeting called on climate change, only the countries emitting the most remained missing
UN Secretary-General Antonio Guterres chairs the Climate Ambition conference. During this conference, an appeal was made to phase out the use of fossil fuels and promote the use of renewable energy.
France's big decision before Modi-Macron meeting: Withdraws from the submarine project for Navy, P-75 refuses to join India project
PM Narendra Modi is on a Europe tour. During his Europe tour, he will also visit France, where he will also meet Emmanuel Macron, the second-time President. But, even before Modi's visit to France,
Rail roko movement in Punjab today: Farmers will sit on railway tracks from noon in support of the movement, protest for three hours
Today, trains will be stopped across Punjab in support of the farmers sitting on dharna at the Shambhu-Khanauri border on the Punjab-Haryana border. In every district, farmers will sit on dharna on
