Twitter's board invokes "poison pill" in an attempt to thwart Elon Musk's takeover - a defensive response that could lead to a massive dilution of existing shareholders.
https://twitter.com/disclosetv/status/1515016726076919814
If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty.
The liability they would thereby assume would be titanic in scale.
https://twitter.com/elonmusk/status/1514718700674306052
Board must have connections/ties/etc they don't want investigated so…burn it all down.
Totally!
>Shell company
That's what I'm thinking.
Cut all losses from (Imminent) Musk takeover
Protect all secrets above public disclosure.
Anon ITT asked, "Who are Twitter's Shareholders?" We know Mattis was involved with Theranos, so it stands to reason that someone from the 43rd/ 44th admin is invested in Twitter.
Following my gist?
Right. Or in reference to the Titanic reference Musk dropped, sink the ship to draw out the rats.
Board was unanimous in it's decision.
https://thehill.com/policy/technology/3269754-twitter-adopts-poison-bill-to-prevent-elon-musk-takeover/
The (Poison Pill) plan would trigger only if Musk increases his stake from 9.2% to 15%
At that point, every other shareholder would be able to buy half-price shares
https://www.dailymail.co.uk/news/article-10722501/Twitter-board-adopts-poison-pill-defense-try-stop-Elon-Musks-hostile-takeover.html
Top 5 Twitter Shareholders
The Vanguard Group, Inc.
Morgan Stanley
BlackRock Inc.
State Street Corp.
And Musk.
https://www.investopedia.com/articles/insights/060916/top-3-twitter-shareholders-twtr.asp
Twitter Board of directors
https://investor.twitterinc.com/corporate-governance/board-of-directors/default.aspx
"A stock worth holding"
Institutional investors purchased a net $20.5 million shares of TWTR during the quarter ended June 2019 and now own 77.97% of the total shares outstanding. This majority interest is a greater percentage than is typical for companies in the Internet Software/Services industry and highlights that the smart money sees this stock as an important holding.
https://money.cnn.com/quote/shareholders/shareholders.html?symb=TWTR&subView=institutional