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Reply to "Elon Musk buys $3 billion stake (9.2%) in Twitter and is now the platform's largest shareholder"
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[quote=Anonymous][quote=Anonymous]Explain the poison pill action taken by the Twitter board.[/quote] Twitter announced that its Board of Directors has unanimously adopted a limited duration shareholder rights plan (the "Rights Plan"). The Rights Plan is intended to enable all shareholders to realize the full value of their investment in Twitter. The Rights Plan will reduce the likelihood that any entity, person or group gains control of Twitter through market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments. It’s a poison pill plan that will trigger when Elon crosses 15%. It is designed to benefit existing shareholders and hurt Elons chances of getting to 51%. It's called a poison pill because it will ultimately hurt the company itself[/quote]
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