After shareholders expressed interest, the Twitter board met with Elon Musk to explore his $43 billion acquisition attempt.

Elon Musk reportedly met with Twitter’s board of directors over the weekend to discuss his $43 billion (£33.6 billion) offer to buy the social media site.

Following Musk’s announcement, Twitter’s management announced a “poison pill” strategy to deter a hostile takeover.

When a person or company seeks to take over another company against the wishes of the target company’s management, it is called hostile, and a ‘poison pill’ is used.

By allowing others to buy additional shares at a discount, the move prevents anyone from owning more than a 15% ownership in the corporation.

According to a regulatory filing, Musk, who owns more than 9% of Twitter, has secured a $46.5 billion funding package for his bid.

Musk has stated that he intends to fund his effort with personal funds as well as the support of Morgan Stanley and other financial organizations in the United States.

According to Reuters, the New York Times, and Bloomberg reporting on Sunday night, April 24, details of Musk’s strategy to acquire money caused Twitter’s 11-member board to seriously explore a prospective transaction.
According to the sources, a number of Twitter stockholders contacted the company’s board after Musk revealed his aspirations for the social media network, urging it not to miss out on a prospective transaction.

Categorized as News

Leave a comment

Your email address will not be published. Required fields are marked *