Crypto Community Welcomes Musk’s Twitter Bid as Obstacles Emerge
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One choice thought of by the board to prevent Elon Musk from shopping for Twitter may be a questionable investor rights set up that may enable existing shareholders to get additional shares at a reduction. The result would be a dilution of the stake control by the party seen as ‘hostile’. an alternative choice thought of is reportedly to decision the provide too low.
Twitter’s board doesn't accept Tesla chief Elon Musk’s bid to shop for all the shares of the corporate and is reportedly making ready a ‘poison pill’ defense strategy that may stop a takeover.
According to these sources, Twitter’s board may announce its ‘poison pill’ already afterward weekday.
The information is notable only if Jack Dorsey, Twitter’s former chief executive officer United Nations agency welcome Musk’s interest in Twitter earlier this month, still remains on the company’s board till his expected departure later this year.
The information was obtained by Bloomberg, citing anonymous sources with information of the matter.
So far, a minimum of one major capitalist in Twitter, the Arabian investment conglomerate Kingdom company, controlled by blue blood Alwaleed bin Talal, has rejected the bid, speech it doesn't represent "the intrinsic value" of the corporate.