Скачать или смотреть Twitter uses a poison pill to foil an Elon Musk takeover

Twitter uses a poison pill to foil an Elon Musk takeover.

At the request of Twitter's board on Friday, Elon Musk's $43 billion hostile takeover attempt was put on hold.

Known as a "poison pill," it allows Twitter's current shareholders an opportunity to buy additional shares at a discount, reducing Musk's ownership interest.

In order to prevent anyone, even Musk, from acquiring a share in the company worth more than 15%, this action has been implemented.

Poison pills allow existing shareholders to purchase additional shares at a discount, which dilutes the position of the person or party trying to acquire the company.

Tesla CEO Elon Musk recently revealed that he owns a 9.2% interest in the social media company Twitter.

Announcing his appointment to the board, he proposed a number of improvements to the platform, including the company's headquarters becoming a homeless shelter.

It's no secret that Tesla CEO Elon Musk thinks Twitter is "failing to adhere to free speech principles" and has even advocated developing a competitor network, on which "free speech and adhering to free speech is given high priority."

He eventually backed out of joining the board and offered to buy the company for $54.20 a share, although he didn't indicate how he meant to pay for it.

"Twitter's Statement" declared "In a unanimous decision, the company's Board of Directors has approved a limited-term shareholder rights plan. Unsolicited, but non-binding proposition to acquire Twitter led to Board adoption of Rights Plan."

Rights Plan "is designed to reduce the likelihood that any entity, person, or group acquires control of Twitter through open market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interests of shareholders," the company stated.