The company Twitter announced this Friday an event it intends to postpone or prevent the acquisition of the company by Tesla CEO, Elon Musk. The event, known in the business world as “poison pills”, aims to complicate Muskie’s acquisition of more than 15% of Twitter shares, which already owns 9% of them.
The maneuver is aimed at getting the mogul to negotiate with the company’s board of directors, instead of buying the shares directly from the shareholders.
Twitter announced the decision a day after Musk, the world’s richest man, offered $ 43,000 million for the social network and threatened to sell all of the company’s shares if he tried to buy it.
Elon Musk is offering $ 54.20 per share on Twitter, which is a 54% bonus compared to January 28, when Musk started buying Twitter shares, as well as a 38% bonus on April 1, when he revealed his position in the company.
Become an unregistered company
“Invest in Twitter because I believe in the potential to be a platform for freedom of expression around the world, and I believe that freedom of expression is a social imperative for a functioning democracy. However, after I made my investment, I realized that the company would not thrive and would not serve this social empire in its current form. “Twitter needs to be transformed into an unregistered company,” Musk said in a letter to the board of directors, in which he made his offer.
Musk currently owns 73.1 million shares of Twitter, or 9.1% of the company’s share capital. If the deal is successful, the businessman, the richest man in the world according to the Forbes list, will have to pay 39.431 million dollars (36.168 million euros) for the 90.9% he still does not control.
Source: El Diario