Twitter announced this Friday (04.15.2022) a measure with which it intends to delay or prevent the purchase of the company by the CEO of Tesla, Elon Musk.
The action, known in the business world as “poison pill”, is intended to complicate the purchase of more than 15% of Twitter shares by Musk, who already owns 9% of them.
Twitter made the decision public a day following Musk, the world’s richest man, offered $43 billion for the social network and threatened to sell all his shares in the company if his takeover bid was rejected.
According to a company statement, its board of directors unanimously adopted the “rights plan”, which ensures “aims that all shareholders obtain the full value of their investment in Twitter.”
This measure, which is considered legal and expires in one year, does not mean that the council cannot accept or contemplate a proposed acquisition of the company, the statement specifies.
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