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.
Delhi Kanjhawala Case: My friend was drunk, yet she insisted and drove the scooty; The friend of the deceased said in the inquiry
In the Sultanpuri accident, the Delhi Police found eyewitnesses. The friend of the deceased made a sensational disclosure on Tuesday in her statement to the police. Under this revelation, the
Iran: Police Unit Enforcing Islamic Dress Code Disbanded, Is Something Big Happening Behind Closed Doors?
The ongoing protests against the hijab in Iran have now reached an important stage. It is reported that in Iran it has been decided to dissolve the units of the 'Moral Police'.
Artemis-1 Mission: Weather is becoming the biggest obstacle in the way of NASA, now the moon rocket will be launched on November 16 instead of 14
The US space agency NASA has once again extended the launch date of its much-awaited Moon Rocket. This has been done because of Tropical Storm Nicole. Earlier, the Moon rocket was to be launched on
'Parliament should pass a condemnation motion against Bangladesh violence,' Indian celebrities wrote a letter
Writers, academicians, and eminent personalities have written a letter expressing concern over the attacks on Hindus in Bangladesh. These people have urged the Parliament to unanimously pass a
Neeraj Chopra: Diamond League Neeraj Chopra finished second in the Zurich Diamond League, Sreeshankar fifth in the long jump
India's star javelin thrower Neeraj Chopra finished second in the Zurich Diamond League. He qualified for the Diamond League finals by finishing second with a best attempt of 85.71m. The final will be
Odisha Teachers Protest: Demonstration of primary school teachers in Odisha, demand for regularization of the service period
Odisha Primary School Teachers Protest: Odisha's primary school teachers protested in Bhubaneswar today. The teachers put forth three-point demands, including regularization of their six-year service
This picture surfaced amidst the news of the engagement of Munmun Dutta and Raj Anadkat, people said - they were already married!
Sitcom TV show Taarak Mehta Ka Ooltah Chashmah has been in the news many times till now. The show often attracts people's attention due to controversies. Now once again 'Taarak Mehta Ka Ooltah
Swapnil Kusale Grand Welcome: Swapnil Kusale returns to his homeland, Olympic medalist gets a grand welcome at Pune airport
Swapnil Kusale Gets Grand Welcome at Pune: Shooter Swapnil Kusale, who won the third medal for India in the Paris Olympics 2024, has returned to India.
PBKS vs RCB Playing 11: RCB's challenge in front of Punjab, captain Shikhar Dhawan's return fixed! View Possible Playing-11
In the 27th match of the Indian Premier League (IPL), Punjab Kings will face Royal Challengers Bangalore (RCB). Both the teams will face each other at the Punjab Cricket Association IS Bindra Stadium
For the RCB vs LSG match, Sanjay Manjrekar chose his fantasy XI, and made Glenn Maxwell the captain, was Virat Kohli given place?
The Eliminator match of IPL 2022 is going to be played between Royal Challengers Bangalore (RCB) and Lucknow Super Giants (LSG) today. Former India cricketer Sanjay Manjrekar has chosen his Fantasy XI
