{"id":1440497,"date":"2022-04-15T13:29:58","date_gmt":"2022-04-15T17:29:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1440497"},"modified":"2022-04-15T14:00:40","modified_gmt":"2022-04-15T18:00:40","slug":"breaking-twitter-board-passes-poison-pill-to-stop-musk-takeover","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-twitter-board-passes-poison-pill-to-stop-musk-takeover\/","title":{"rendered":"BREAKING: Twitter Board Passes \u2018Poison Pill\u2019 To Stop Musk Takeover"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbreaking-twitter-board-passes-poison-pill-to-stop-musk-takeover%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1440497&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" class=\"ff-og-image-inserted\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/02\/Musk-scaled.jpg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" alt=\"image\" \/><\/div>\n<p>Twitter\u2019s board of directors has adopted a \u201cpoison pill\u201d to thwart Tesla founder Elon Musk from outright buying the company.<\/p>\n<p>The board has adopted a \u201climited duration shareholder rights plan,\u201d which gives Twitter\u2019s existing shareholders, save Musk, time to purchase additional shares at a discount, Axios <a href=\"https:\/\/www.axios.com\/twitter-elon-musk-poison-pill-7a62f6d6-b77a-4481-a2e3-5a7081557a84.html\">reported<\/a> Friday.<\/p>\n<p>The desired effect is clearly to dilute Musk\u2019s holding in the company, and make the cost of a takeover higher or even prohibitive.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p dir=\"ltr\" lang=\"en\">Important:<\/p>\n<p>The Rights Plan will reduce the likelihood that any entity, person or group gains control of Twitter through market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments<\/p>\n<p>\u2014 unusual_whales (@unusual_whales) <a href=\"https:\/\/twitter.com\/unusual_whales\/status\/1515003821226967040?ref_src=twsrc%5Etfw\">April 15, 2022<\/a><\/p><\/blockquote>\n<p>\u201cTwitter, Inc. today announced that its Board of Directors has unanimously adopted a limited duration shareholder rights plan (the \u2018Rights Plan\u2019),\u201d a press release from the company <a href=\"https:\/\/www.prnewswire.com\/news-releases\/twitter-adopts-limited-duration-shareholder-rights-plan-enabling-all-shareholders-to-realize-full-value-of-company-301526627.html\">said<\/a>. \u201cThe Board adopted the Rights Plan following an unsolicited, non-binding proposal to acquire Twitter.\u201d<\/p>\n<p>\u201cThe Rights Plan is intended to enable all shareholders to realize the full value of their investment in Twitter,\u201d it continued. \u201cThe Rights Plan will reduce the likelihood that any entity, person or group gains 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.\u201d<\/p>\n<p>\u201cThe Rights Plan does not prevent the Board from engaging with parties or accepting an acquisition proposal if the Board believes that it is in the best interests of Twitter and its shareholders,\u201d Twitter said.<\/p>\n<p>\u201cUnder the Rights Plan, the rights will become exercisable if an entity, person or group acquires beneficial ownership of 15% or more of Twitter\u2019s outstanding common stock in a transaction not approved by the Board,\u201d the company added. \u201cIn the event that the rights become exercisable due to the triggering ownership threshold being crossed, each right will entitle its holder (other than the person, entity or group triggering the Rights Plan, whose rights will become void and will not be exercisable) to purchase, at the then-current exercise price, additional shares of common stock having a then-current market value of twice the exercise price of the right.\u201d<\/p>\n<p>The new plan is set to expire on\u00a0<span class=\"xn-chron\">April 14, 2023<\/span>.<\/p>\n<p><strong><em>This is a breaking story, please refresh for updates\u00a0<\/em><\/strong><\/p>\n<p><i>The Daily Wire is one of America\u2019s fastest growing conservative media companies for breaking news, investigative reporting, sports, podcasts, in-depth analysis, books, and entertainment for a reason: because we believe in what we do. We believe in our country, in the value of truth and the freedom to speak it, and in the right to challenge tyranny wherever we see it. Believe the same? <\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i>Become a member now and join our mission.<\/i><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Twitter\u2019s board of directors has adopted a \u201cpoison pill\u201d to thwart Tesla founder Elon Musk from outright buying the company.The board has adopted a \u201climited duration shareholder rights plan,\u201d which<\/p>\n","protected":false},"author":64,"featured_media":2315279,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1440497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1440497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1440497"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1440497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1440497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1440497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1440497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}