The New York Times wrote… Elon Musk’s Twitter Flash Decision: A Poison Pill!

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Elon Musk, the richest person in the world, has recently been on the agenda with his move to Twitter.

The billionaire businessman, CEO of Tesla and SpaceX, has taken action to buy the entire microblogging platform.

There was a remarkable analysis in the New York Times (NYT) about Musk, who recently bought 9% of Twitter for nearly $3 billion.

The NYT wrote that Twitter was preparing to implement a method also known as the “poison pill” to prevent this sale.

In Lauren Hirsch’s article, Twitter considers the possibility of selling additional shares at a lower cost to existing shareholders to avoid Musk.

The “poison pill” formula is a method that companies use to avoid losing their majority shares. With this method, existing shareholders have the right to buy additional shares at a reduced price, and the person or institution that wants to own the majority of the shares of the company is thus blocked.

The “poison pill” formula is a method that companies use to avoid losing their majority shares. With this method, existing shareholders have the right to buy additional shares at a reduced price, and the person or institution that wants to own the majority of the shares of the company is thus blocked.

REJECTION OF SAUDI PRINCE AT MUSK

Saudi Prince Alwaleed bin Tallal, who owns just over 5% of Twitter shares, took a negative view of Musk’s offer of $54.2 per share.

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Stating that Musk’s offer is weak for Twitter, the Saudi prince said he has no plans to sell Twitter shares in the long term.

ELON MUSK ANNOUNCED: I HAVE A PLAN B

Musk, on the other hand, said he wasn’t sure if the attempt to buy the entire social media platform Twitter would be successful, saying, “If my offer is rejected, I have a plan B.”

Speaking at a TED talk in Vancouver, Canada, following his $41 billion Twitter bid, Musk did not say what his plan was.

In his speech, Musk said Twitter should be more open and transparent and said, “It should be an inclusive platform that allows freedom of expression.”

Meanwhile, Twitter CEO Parag Agrawal told company employees they were considering Musk’s offer.

Agrawal also reportedly said the company was “not held hostage” with the offer.

Elon Musk has made an offer to buy all shares of Twitter. Musk, the world’s richest person with a fortune of $259 billion, has bid $43.4 billion for all of Twitter.

The New York Times wrote... Elon Musk's Twitter Flash Decision: A Poison Pill!

Elon Musk has made an offer to buy all shares of Twitter. Musk, the world’s richest person with a fortune of $259 billion, has bid $43.4 billion for all of Twitter.

MUSK IS NO LONGER THE LARGEST SHAREHOLDER

In his application, Musk claimed he was the person who would unleash the company’s “extraordinary potential” and said, “If my offer is not accepted, I will have to reconsider my position as a shareholder.”

Elon Musk also said, “If Twitter management chooses to reject my proposal, it would be extremely untenable not to put this proposal to a shareholder vote.”

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This offer from Musk is 38% above the market’s closing price on April 1, when Twitter bought its first shares. But the company’s shares had topped $70 last summer.

Elon Musk became Twitter’s largest shareholder after buying 3 billion shares. However, Vanguard Group is said to have overtaken Musk by increasing its share to 10.3%.

Musk, who actively uses Twitter and has more than 80 million followers, owns nearly four times as much of the company as Twitter founder Jack Dorsey.

Tesla CEO Musk voiced his reservations about the platform’s freedom of speech to his Twitter followers last month, saying he was seriously considering creating a new social media platform. Last week, Musk decided not to serve on Twitter’s board.

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IT ALL STARTED WITH PAYPAL

After growing up in South Africa, Musk moved to Canada when he was 17 and then to California. Musk founded PayPal while training there and later sold it for $150 million.

Musk, owner of electric car company Tesla and space company SpaceX, made his fortune with those companies.

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