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Thndr Claps » U.S. Claps » NYSE 🔔 » Twitter plays defense🛡️

Twitter plays defense🛡️

by Shams Abbas
April 16, 2022

The Clap
A day after Elon Musk offered to buy Twitter for $43 billion, Twitter’s BoD announced a “poison pill”, a way for companies to defend against hostile takeovers.

Claps Class
 A poison pill makes it more expensive for an acquirer to buy shares of the target company above a certain threshold.

The deets
In Musk’s case, Twitter’s common stock will be sold at a discounted price in the case Musk decides to purchase a 15% stake or more in the company without the board’s approval.

This move leads to an immediate dilution of the acquirer’s stake if they do decide to acquire 15% or more of the company. The poison pill plan will remain in effect until April 14, 2023.

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