Will Twitter be able to use a ‘venenopil’ to prevent Musk’s takeover?

after a day Elon Musk The Twitter board, which offered to buy Twitter for nearly $43 billion, is trying to prevent the superbillionaire from taking control of the company. Earlier this week, Musk offered to buy Twitter and buy the microblogging platform for US$54.20 per share. He made the proposal days after becoming the company’s largest shareholder, having bought a 9.2% stake for $2.89 billion.

Musk argues that the Twitter council may not receive his open arms acquisition proposal. In an interview with TED CEO Chris Anderson on Thursday, Musk admitted that he doesn’t really want to buy Twitter. Meanwhile, Musk also confirmed that there is a Plan B offer to be submitted to Twitter. During the interview, Musk also reiterated his stance that Twitter should switch to an open code algorithm for transparency.

Twitter’s board of directors has now passed a challenge called “venenopil” to prevent Elon Musk from taking control of the company. The challenge of the plan is to get the shareholder’s stake in the company so that other shareholders get options at a preferential discount. It is common practice for companies to avoid hostile takeovers, but also worries common shareholders and institutional investors because their holdings are also diluting. “Unanimously Approved Plan of Rights of Two Shareholders with Limited Employment” Finally, to reduce Musk’s chances of gaining control of the company due to the amount of participation in the public market. The shareholder rights plan can be exercised in part by acquiring a 15% shareholding without prior approval and will remain in effect for one year until April 14, 2023. This ensures that any person seeking control over the company, all other shareholders have a “control fee” on the market value of the activity.

In addition to the toxic campaign, Twitter is considering other defamation mechanisms to prevent Elon Musk from taking over the company. BloombergAt the time, the council considered registering a current bid of $43 billion, saying it was “too low” and would exclude Musk from the market. Musk says US$54.20 per share is his highest offer, although he can still make a higher offer as it increases his chances of taking control of the company. However, now that the company is training its school weapon against Musk, it is expected that this investigation will be completed in time. Conversely, there are still other options available, although they don’t seem to be as effective as the ‘first come, first served’ plan.

Even with the Twitter destination in play, Musk is following his lucky path, sifting through his Twitter followers to decide who should decide whether the sale will happen. pergundy If your Twitter followers agree with the idea that shareholders – not the board – should decide whether to privatize the company at US$54.20 per share. from Musk Enthusiastic supporters agree with him on this point.

source: Twitter/PR News, Bloomberg, Elon Musk/Twitter

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