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Twitter board adopts poison pill after Musk’s $43B bid to buy company

cnbc.com

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Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company

#441

Post by rchaud »

robbomacrae wrote: post #355

Can't Elon just loan his money to some close acquaintances to buy 15% each in their name who will vote his way?

You can't press a button and buy that much stock. You'd likely have to buy from portfolios of hundreds of investor funds and family offices. Word gets around, and you'll have to jack up the bid with each successive call.

You'd also have to buy in large volumes on the public markets as well, so that'll bid up the price,providing a rationale for the board to reject the offer as undervalued.

Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company

#442

Post by 10u152 »

tonguez wrote: post #437
yalogin wrote: post #405

Earlier quoted context omitted.

Not really, as a counter argument, there is every reason to believe that Musk will make a mockery of twitter and run it into the ground. A social media platform with a lot of responsibility is not for someone as egotistical as Musk. If Zuckerberg is bad, Musk could be catastrophic.

“Musk will make a mockery of twitter” how do you make a mockery of something whose only purpose is to manufacture consent for war profiteering?

Wow, what utter hyperbole. Can you cite any evidence?

Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company

#443

Post by cududa »

It is astonishing how many 'fact oriented' people are opining on things they know nothing about, could easily google, are wrong about, and how upvoted they are here. I've heard the phrase poison pill before. I looked into it for real for the first time yesterday. Have maybe spent an hour since reading about it.

How are so many people morally outraged by some complex measure they're trying to authoritatively distill and are just so wrong about, and didn't even bother to google?

About 60% of this thread can be summed up as

"I'm going to pass this alphanumeric value to this variable."

"But it's an integer"

"No it's not."

Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company

#444

Post by whymauri »

wwweston wrote: post #413
scythe wrote: post #397

Earlier quoted context omitted.

Icahn was claiming that Netflix was undervalued. To be fair, he was also angling for an acquisition. But a bid like that usually has a half-life; the market trends to a good price — and indeed, Netflix doubled in value by mid-2013. Elon is arguing that Twitter is mismanaged. He already probably pushed them on the edit button, even though they claimed he didn't. If he's right — and Goldman Sachs seems to agree — he co…

> Elon is arguing that Twitter is mismanaged. Anyone who thinks this is manifestly true should read this take from an ex-CEO of Reddit: https://twitter.com/yishan/status/1514938507407421440 tl;dr: managing human interaction in any environment with limited accountability is a lot harder than it looks Also, there's the question of by what metrics one would argue it's mismanaged. Revenue and engagement trends? Profitabi…

It's not just harder than it looks, I would argue it's one of the hardest problems imaginable.

Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company

#445

Post by RickJWagner »

jgalt212 wrote: post #440
rufusroflpunch wrote: post #432

Earlier quoted context omitted.

Elon has run several companies immensely more successful than Twitter. He also planned to address some glaring issues on the platform. There is almost no question he would have been better than current management, which is destroying their platform.

> Elon has run several companies immensely more successful than Twitter. Like all things, it depends how you count. The problem I see vis a vis Twitter is it's private company and a public utility at the same time.

I don't think it's run like a public utility. Twitter takes stances that might seem 'centrist' in politically blue areas, but seem biased in red areas.

Personally, I think Musk would run it more fairly.

Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company

#446

Post by rufusroflpunch »

bko wrote: post #407
woodruffw wrote: post #291

Earlier quoted context omitted.

If I was a member of Twitter's board, Musk's history of erratic public behavior, SEC settlement, and openly hostile attitude towards the company's employees would be more than sufficient to justify my belief that his controlling ownership would not be in the interest of the current average shareholder. That opinion would also be consistent with how "fiduciary duty" is interpreted by US regulators: companies are not r…

It doesn't have to be complicated. The shareholders should have a right to decide through a proxy vote on whether to accept the offer

To me, this seems obvious. No reason something this fateful shouldn’t be put to shareholder vote. No good reason, at least.

Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company

#447

Post by axlee »

whatshisface wrote: post #409
yalogin wrote: post #405

Earlier quoted context omitted.

Not really, as a counter argument, there is every reason to believe that Musk will make a mockery of twitter and run it into the ground. A social media platform with a lot of responsibility is not for someone as egotistical as Musk. If Zuckerberg is bad, Musk could be catastrophic.

The shareholders no longer care what happens to Twitter once they are shareholders no longer. (Except insofar as they are Twitter users.)

Tell that to all the employee with shares or options.

Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company

#448

Post by LegitShady »

jgalt212 wrote: post #440
rufusroflpunch wrote: post #432

Earlier quoted context omitted.

Elon has run several companies immensely more successful than Twitter. He also planned to address some glaring issues on the platform. There is almost no question he would have been better than current management, which is destroying their platform.

> Elon has run several companies immensely more successful than Twitter. Like all things, it depends how you count. The problem I see vis a vis Twitter is it's private company and a public utility at the same time.

Twitter is very clearly not a public utility by any means

Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company

#449

Post by [deleted] »

cududa wrote: post #443

It is astonishing how many 'fact oriented' people are opining on things they know nothing about, could easily google, are wrong about, and how upvoted they are here. I've heard the phrase poison pill before. I looked into it for real for the first time yesterday. Have maybe spent an hour since reading about it. How are so many people morally outraged by some complex measure they're trying to authoritatively distill a…

[deleted]

Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company

#450

Post by [deleted] »

WalterBright wrote: post #17

Every company I know of that did a poison pill to prevent a takeover wound up tanking within a year or two and the shareholders wound up with sand. As a Twitter shareholder myself, the board is making a big mistake. As a legal matter, I don't understand how a board could sell shares to other shareholders at a lower price than to the entity wanting to buy shares to gain control.

[deleted]
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