{"id":1443101,"date":"2022-04-18T08:30:35","date_gmt":"2022-04-18T12:30:35","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1443101"},"modified":"2022-04-18T08:30:45","modified_gmt":"2022-04-18T12:30:45","slug":"elon-musk-publicly-slams-twitter-panel-after-poison-pill-adopted","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-publicly-slams-twitter-panel-after-poison-pill-adopted\/","title":{"rendered":"Elon Musk Publicly Slams Twitter Panel After \u2018Poison Pill\u2019 Adopted"},"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%2Felon-musk-publicly-slams-twitter-panel-after-poison-pill-adopted%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=1443101&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\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/04\/GettyImages-1128344984.jpg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Tesla founder Elon Musk slammed Twitter\u2019s board for \u201cobjectively\u201d not having their \u201ceconomic interests\u201d aligned with the company\u2019s shareholders.<\/p>\n<p>Musk\u2019s critical tweets were posted after the board adopted a \u201cpoison pill\u201d in an effort to thwart the billionaire\u2019s hostile takeover of the company.<\/p>\n<p>\u201cElon Musk is in for a bad time,\u201d Laskie founder Chris Bakke posted. \u201cI\u2019m not sure he\u2019s prepared to take on a couple PhDs, a few MBAs, and a Baroness who use Twitter once a year (to reset their passwords) and collectively own 77 shares of the company.\u201d<\/p>\n<p>A screenshot of Twitter board members\u2019 ownership\u00a0accompanied Bakke\u2019s comments.<\/p>\n<p>\u201cWow, with Jack departing, the Twitter board collectively owns almost no shares!\u201d Musk reacted on Saturday. \u201cObjectively, their economic interests are simply not aligned with shareholders.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Wow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders.<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1515403974802870279?ref_src=twsrc%5Etfw\">April 16, 2022<\/a><\/p>\n<\/blockquote>\n<p>The same day, the tech billionaire agreed with entrepreneur David Sacks\u2019 post claiming a rejection of Musk\u2019s offer to outright buy Twitter would expose \u201ccorruption.\u201d<\/p>\n<p>\u201cIf the game is fair, Elon will buy Twitter,\u201d Sacks tweeted. \u201cIf the game is rigged, there will be some reason why he won\u2019t be able to. We\u2019re about to find out how deep the corruption goes.\u201d<\/p>\n<p>\u201cIndeed,\u201d Musk replied.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Indeed<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1515367711894917122?ref_src=twsrc%5Etfw\">April 16, 2022<\/a><\/p>\n<\/blockquote>\n<p>The Twitter board on Friday announced the adoption of a \u201cpoison pill,\u201d intended to stop Musk\u2019s efforts to buy the company by diluting his shares. <a href=\"https:\/\/www.dailywire.com\/news\/breaking-twitter-board-passes-poison-pill-to-stop-musk-takeover\">The Daily Wire<\/a> reported:<\/p>\n<blockquote>\n<p><em>The board has adopted a \u201climited duration shareholder rights plan,\u201d which gives Twitter\u2019s existing shareholders, except 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.<\/em><\/p>\n<p><em>The desired effect is clearly to dilute Musk\u2019s holding in the company, and make the cost of a takeover higher or even prohibitive.<\/em><\/p>\n<\/blockquote>\n<p>\u201cA poison pill, devised by law firms in the 1980s to protect companies from corporate raiders, essentially lets a takeover target flood the market with new shares or allow existing shareholders other than the bidder to buy them at a discount,\u201d The New York Times <a href=\"https:\/\/www.nytimes.com\/2022\/04\/15\/business\/dealbook\/twitter-poison-pill-elon-musk.html?smtyp=cur&#038;smid=tw-nytimes\">explained<\/a>. \u201cThat means anyone trying to acquire the company must negotiate directly with the board.\u201d<\/p>\n<p>The pill will be activated \u201conce any individual or a group of people working together buy 15 percent or more of Twitter\u2019s shares,\u201d the Times noted.<\/p>\n<p>Musk earlier in the week offered to buy 100% of Twitter at $54.20 per share <em>in cash<\/em> \u2014 a deal that could exceed $40 billion, <a href=\"https:\/\/www.dailywire.com\/news\/breaking-elon-musk-offers-to-buy-100-of-twitter-in-cash\">The Daily Wire<\/a> reported.<\/p>\n<p>The entrepreneur\u00a0stressed in a formal letter to Twitter\u2019s\u00a0Chairman of the Board Bret Taylor that he believes the platform should be used to proliferate the principle of free speech, an\u00a0<a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1418091\/000110465922045641\/tm2212748d1_sc13da.htm\">SEC filing<\/a>\u00a0revealed.<\/p>\n<p>\u201cFree speech is a societal imperative for a functioning democracy\u201d Musk wrote, adding that this was his \u201cbest and final offer.\u201d<\/p>\n<p><strong>Related:\u00a0<a href=\"https:\/\/www.dailywire.com\/news\/elon-musk-can-f-off-reaction-explodes-online-over-musk-bid-to-outright-buy-twitter-take-it-private\">\u2018Elon Musk Can F*** Off\u2019: Reaction Explodes Online Over Musk Bid To Outright Buy Twitter, Take It\u00a0Private<\/a><\/strong><\/p>\n<p><strong>Related:\u00a0<a href=\"https:\/\/www.dailywire.com\/news\/twitter-issues-press-release-addressing-elon-musks-unsolicited-bid-to-outright-buy-platform\">Twitter Issues Press Release Addressing Elon Musk\u2019s \u2018Unsolicited\u2019 Bid To Outright Buy\u00a0Platform<\/a><\/strong><\/p>\n<p><strong>Related:\u00a0<a href=\"https:\/\/www.dailywire.com\/news\/breaking-twitter-board-passes-poison-pill-to-stop-musk-takeover\">Twitter Board Passes \u2018Poison Pill\u2019 To Stop Musk\u00a0Takeover<\/a><\/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>Tesla founder Elon Musk slammed Twitter\u2019s board for \u201cobjectively\u201d not having their \u201ceconomic interests\u201d aligned with the company\u2019s shareholders.Musk\u2019s critical tweets were posted after the board adopted a \u201cpoison pill\u201d<\/p>\n","protected":false},"author":64,"featured_media":1443857,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1443101","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\/1443101","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=1443101"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1443101\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1443857"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1443101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1443101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1443101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}