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

Post by nicce » Sat, Apr 16, 2022, 2:04 AM UTC

loceng wrote: post #108

fairity wrote: post #66

People are overlooking the fact that a poison pill will likely increase the price of Musk's final offer, and in doing so will maximize shareholder value. Put another way, Musk may be willing to pay a lot more than a 25% premium for Twitter (he already said he doesn't care about price). Without this poison pill, Musk can force a takeover by accumulating shares. With this poison pill, the board has leverage to maximize…

He said it's not an economic decision, that doesn't mean price he pays isn't considered; he also said it's his final offer, whether that's just presenting a firm stance as a negotiating tactic or not, I don't know; ~$40 billion investment (far less) could create a better platform than Twitter with mass but it wouldn't be a head start that it looks like he's wanting to buy.

Post by dahdum » Sat, Apr 16, 2022, 2:04 AM UTC

jonas21 wrote: post #305

nickysielicki wrote: post #29

I don’t understand how any board can implement a “poison pill”, not just Twitter but Netflix and others, and not be found working against the interest of shareholders. Can anyone help me understand? You’re categorically changing the profile of the stock. This has a chilling effect on large investors, including but not limited just to Musk, right? Vanguard, for example, has just had its range of further investment lim…

As a Netflix shareholder at the time they adopted their poison pill, I feel like the subsequent ~40x increase in share price has been very much in my interest. :-) Of course hindsight is 20/20, but even at the time, it seemed like the company was prioritizing long-term growth, whereas if they were taken over by Carl Icahn, they'd certainly not be.

Post by joncrane » Sat, Apr 16, 2022, 2:06 AM UTC

hooande wrote: post #546

psyc wrote: post #535

Earlier quoted context omitted.

I have this recurring fantasy in which some Satoshi figure creates a decentralized global bulletin board, such that anybody can post and view anything anonymously and untraceably, and nobody - not the U.S. government, nor the CCP, nor the Mossad, nor the NSA - can stop it short of dismantling the whole Internet and starting over. Nobody can blame anybody, because nobody can stop it. Not because I think such a thing i…

This is 4chan. Your recurring fantasy is 4chan

Post by a-dub » Sat, Apr 16, 2022, 2:07 AM UTC

psyc wrote: post #535

a-dub wrote: post #501

Earlier quoted context omitted.

from what i understand it's a matter of ideals combined with the technologist's desire to see the machines (all types, including sociopolitical) work correctly. he wants to see the first amendment function with autistic precision. he wants to remove any messy personalization because it interferes with that purity. he wants fully transparent moderation and proof of fairness. he doesn't like the idea that one organizat…

I have this recurring fantasy in which some Satoshi figure creates a decentralized global bulletin board, such that anybody can post and view anything anonymously and untraceably, and nobody - not the U.S. government, nor the CCP, nor the Mossad, nor the NSA - can stop it short of dismantling the whole Internet and starting over. Nobody can blame anybody, because nobody can stop it. Not because I think such a thing i…

Post by [deleted] » Sat, Apr 16, 2022, 2:08 AM UTC

jv22222 wrote: post #543

hooande wrote: post #485

Earlier quoted context omitted.

As is detailed by many smart people below, fiduciary duty lawsuits are difficult to win. They'd pretty much have to have board members emailing each other saying "This would be in the best interest of shareholders, but let's screw them over instead" This was an epic debacle. Musk invested 4 BILLION dollars in an asset of questionable value, because "free speech". If he times it right he could come out ahead financial…

> I have no idea what he was doing Would it be illegal for him to launch a Twitter competitor, take 40 million followers with him, and sell all of his Twitter shares on the same day? Perhaps that is the strategy? A 1-2-3 punch to launch his own network.