Tech

Twitter’s board of directors adopt limited-term shareholder rights plan to prevent anyone from having more than 15% stake in company

Twitter’s board of directors has adopted a limited-term shareholder rights plan called a ‘poison pill’ that could make it harder for richest man of the world, Elon Musk to acquire the social media company. The move would allow existing Twitter shareholders except for Musk, the Chief of Tesla, to buy additional shares at a discount, thereby diluting Musk’s stake in the company and making it harder for him to corral a majority of shareholder votes in favor of the acquisition. The move will prevent anyone from having more than a 15% stake in the company.

Musk currently owns around 9% of Twitter’s shares. The Twitter board detailed its defence plan to the US Securities and Exchange Commission and put out a statement saying it was needed because of Musk’s unsolicited, non-binding proposal to acquire Twitter. The Tesla and SpaceX CEO has offered to acquire all the shares in Twitter he does not own for 54.20 dollar per share, valuing the company at 41.4 billion dollar.

Click to comment

Leave a Reply

Your email address will not be published.

17 − 2 =

News is information about current events. News is provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, and also on the testimony of observers and witnesses to events. It is also used as a platform to manufacture opinion for the population.

Contact Info

Address:
D 601  Riddhi Sidhi CHSL
Unnant Nagar Road 2
Kamaraj Nagar, Goreagaon West
Mumbai 400062 .

Email Id: [email protected]

West Bengal

Eastern Regional Office
Indsamachar Digital Media
Siddha Gibson 1,
Gibson Lane, 1st floor, R. No. 114,
Kolkata – 700069.
West Bengal.

Office Address

251 B-Wing,First Floor,
Orchard Corporate Park, Royal Palms,
Arey Road, Goreagon East,
Mumbai – 400065.

Download Our Mobile App

IndSamachar Android App IndSamachar IOS App
To Top
WhatsApp WhatsApp us