Twitter's board announced a plan that would make it harder for Elon Musk to buy the company.
Twitter's board of directors addressed Elon Musk's offer to buy Twitter by putting in place a plan that aims to hinder his ability to do so.on Friday a shareholder rights plan, more commonly known in the finance world as a “poison pill,” which is a defense strategy companies can use to protect themselves from hostile takeovers.
The plan will be in effect untilEssentially, this approach allows shareholders to purchase additional corporate stock at a discount, effectively diluting the value of the stock and making it more expensive for the prospective buyer,Twitter's rights plan can be exercised wherever any entity buys 15% or more of Twitter’s stock in a transaction not approved by the board, according to a statement released by the company.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter CEO says board still evaluating Elon Musk takeoverNo decision yet
Read more »
Elon Musk Offers to Buy Twitter, Says Company ‘Needs to Be Transformed'Twitter Inc. said in a regulatory filing on Thursday that Musk provided a letter to the company on Wednesday with a proposal to buy the remaining shares of Twitter that he doesn’t already own.
Read more »
Elon Musk offers to buy Twitter for $43 billion in cashBREAKING: Elon Musk has offered to buy Twitter for $54.20 a share in cash, or about $43 billion, according to documents filed with the SEC.
Read more »
Elon Musk makes $41.4 billion cash offer to buy TwitterMusk said that if the offer is not accepted he would 'need to consider position as a shareholder.'
Read more »
Elon Musk Offers to Buy Twitter for $41.3B to Take Company PrivateTwitter shares surged more than 12% in pre-market trading following Musk's statement.
Read more »
Elon Musk offers to buy Twitter in takeover attemptTwitter needs to go private for the changes needed
Read more »