Twitter Adopts Poison Pill Defense to Block Elon Musk Takeover
See Also: Twitter’s New Acquisition OpenBack will Filter Important Tweets Only Currently, Elon Musk owns 9.2% of Twitter. He also made an offer to acquire 100% of the company’s shares as revealed in a filing with the U.S. Securities and Exchange Commission. He is also willing to pay $54.20 per share. It would be an all-cash offer that values the social network at $43.4 billion. For a limited time, existing Twitter shareholders will be able to purchase additional shares at a discount under certain circumstances. If an entity, person or group crosses a threshold, in that case, a 15% stake in Twitter, other shareholders can buy more shares. This way, it would stagger plans to buy more than 15% of the company. The poison pill remains valid until April 14, 2023. Check Also: This Year TikTok will Make More Money than Snap and Twitter Combined
