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posted ago by lsdQ ago by lsdQ +374 / -0

https://www.wsj.com/articles/twitter-moves-to-block-elon-musk-from-increasing-stake-11650040204?mod=e2fb

Twitter Moves to Block Elon Musk From Increasing Stake

The social-media company takes the step a day after the tech entrepreneur made a $43 billion unsolicited takeover bid

Twitter confirmed its board would review Elon Musk’s proposal.

PHOTO: LAURA MORTON FOR THE WALL STREET JOURNAL

By Cara Lombardo

Updated April 15, 2022 12:37 pm ET

Twitter Inc. moved to prevent Elon Musk from significantly increasing his stake the day after he made a $43 billion unsolicited takeover bid for the social-media company.

The company on Friday adopted a so-called poison pill that makes it difficult for him to increase his stake beyond 15%. The billionaire founder of Tesla Inc. already owns a more than 9% stake that he revealed earlier this month.

The Wall Street Journal reported Thursday that Twitter was weighing such a move.

Poison pills, also called shareholder-rights plans, are legal maneuvers that make it hard for shareholders to build their stakes beyond a set point by triggering an option for others to buy more shares at a discount. They are often used by companies that receive hostile takeover bids to buy themselves time to consider their options.

Comments (105)
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101
DireCarbon 101 points ago +101 / -0

So now Elon just needs to hint that maybe he will sell off after all......Price starts to tank and the board looks even worse. This is getting good.

49
deltadog 49 points ago +49 / -0

Sell, then rebuy that 9% at a lower price lol

28
Mister_Winston 28 points ago +28 / -0

Or DWAC rebuys at a lower price.

11
CacheCollector 11 points ago +11 / -0

special acquisition companies like dwac are used to bring private companies public. they are never used to acquire publicly traded company like twtr. and its already announced its acquisition. too many people talk about dwac not even knowing what a spac is.

-2
basilpesto -2 points ago +7 / -9

Nah, no reason for DWAC to invest in that shitty company.

23
JoeMcCarthyWasRight 23 points ago +23 / -0

That shitty company is a major tool in the culture war. It’s an asset.

7
Snowgirl1965 7 points ago +7 / -0

Exactly

2
basilpesto 2 points ago +2 / -0

Definitely a tool in the culture war, but that’s like saying the Universities are essential for education.

1
PlumberFag 1 point ago +1 / -0

Some tools break. But for 45 billion you'd be inclined to keep that tool.

5
GoingCamaro 5 points ago +5 / -0

The company and platform are not shitty. It's who runs them that is.

1
basilpesto 1 point ago +1 / -0

Well that is true, but unfortunately the corporate culture is built on top of this shitty culture, it’ll have to be completely revamped (employees, infrastructure, etc), hence why it’s better to take it private imo.

1
FliesTheFlag 1 point ago +1 / -0

completely revamped (employees

Yes, fire them and eliminate the positions. Whys that dumpster fire need 7,500 people.

1
pedewithweed 1 point ago +1 / -0

u/basilpesto I think you're missing the point. While yes, twitter is the internet's hairy ass hole, it's where the majority of the internet is.

If Trump took over the site he could change it for the better and get rid of the censorship and reinstate banned accounts

2
basilpesto 2 points ago +2 / -0

I would agree with this. My point is we don’t need to have DWAC buy Twitter for this to happen (let alone that Twitter runs on the services that could easily take it offline / censored).

There is a fascination with DWAC it seems.

13
Kilowatt2066 13 points ago +13 / -0

isn't it ? LOL

6
citypeople 6 points ago +8 / -2

He needs to get out and then announce he sold. The problem is that move also hurts the shareholders who own Tesla.

26
DireCarbon 26 points ago +26 / -0

Tesla is already being attacked by the SEC and DoJ. Its stock is dropping already. Elon needs to power into the attack because we all know what happens when you bend the knee and back down to the left.

Edit: Also, many of the same big names own Tesla, that own Twitter....

2
PaNix 2 points ago +2 / -0

Double down against the hedges that are now shorting twitter waiting for the sell off dip

9
SoMuchWinning45 9 points ago +9 / -0

He needs to actually sell before he announces it. To do otherwise would be market manipulation and he'll get a slap on the wrist. It would be even worse at this time because the SEC and DOJ are launching a joint investigation against him.

18
Qanom-nom-nom 18 points ago +18 / -0

And yet the SEC ignores the drunken cunt-face and all the other “elected” insider-trading criminals. The whole thing is a scam.

4
Island_Photo 4 points ago +4 / -0

Wait, which drunken cunt-face are you referring to? I can think of several politicians who fit that bill of lading...

2
Cpleb 2 points ago +2 / -0

Piglosi

1
Island_Photo 1 point ago +1 / -0

Ahh ok I was thinking peppermin cunny McCuntface

7
VetforTrump 7 points ago +7 / -0

Sec and doj are going to ruin themselves on this. It may be what the actual target is since we are cleaning up governme t and we k ow sec doesn't go after the elite for stealing.

1
HardWorkinPatriot 1 point ago +1 / -0

You may be right. That would be a brilliant move. Is he setting the stage to show how corrupt the SEC is??

2
polish_snausage 2 points ago +2 / -0

Isn't the poison pill thing illegal?

I know company's do it, but they don't want to get caught doing it... or they used to

1
SoMuchWinning45 1 point ago +1 / -0

They're in legal documents, so they're likely not illegal.

5
VetforTrump 5 points ago +5 / -0

If the stocks tank then wouldnt they be picked up cheaply by a possible Twitter ally. I'm not too educated on this stuff.

2
Bedminster 2 points ago +2 / -0

Bingo... I think that's the plan.

5
KimJung-Un 5 points ago +5 / -0

That won't work. BlackRock and Vanguard will get the green light to purchase those shares.

11
DireCarbon 11 points ago +11 / -0

Wont that make it look like the system is rigged to everyone watching? The thing is, we dont really know what Elons goal is here. What if it is to strip away all of the facade and reveal that twitter is (and always was) a propaganda arm of the government. He doesnt actually have to complete the purchase to expose plenty. He certainly has many eyes on the fight. And wouldnt you know it, Trump and TS are just waiting in the wings to go full launch.....

7
VetforTrump 7 points ago +7 / -0

You may be right, this may be about exposing sec very dirty practices.

1
BigFreedomBoner 1 point ago +1 / -0

They are going out until no bullets are left. They've long ago abandoned a lightly gathered semblance of a faint specter of respectability; they've long have none. We know it's rigged. They know we know. They know we know they know.

1
VetforTrump 1 point ago +1 / -0

I laughed when I read this because it's so true.

Obvious game to both sides yet we keep playing.

5
Cyberhawk 5 points ago +5 / -0

I don’t think government(s) give a crap about if it looks rigged or not, anymore l. It’s so obvious now the two tiered justice system. Question is who gains or who loses. If the loser is a “somebody”, justice happens. If not, then laws broken will be ignored.

1
VetforTrump 1 point ago +1 / -0

In their eyes it's just business. In ours it's treason.

1
KimJung-Un 1 point ago +1 / -0

Exactly.

3
Eion1830 3 points ago +3 / -0

Kik Keee Kik Kik !

37
Zeitreise 37 points ago +37 / -0

If I was a shareholder of Twitter right now I'd be kicking someone's fucking door in and demanding they stop fucking about with my investments.

The people at the top are clearly using investor's money to use Twitter as a censorship weapon.

4
scurfie 4 points ago +4 / -0

If you have money invested in any major investment firm, you may have stock in Twitter.

4
VetforTrump 4 points ago +5 / -1

Whatsoever u have stock in you have stock in the deep state.

3
queue-anon 3 points ago +3 / -0

Not if you have GAMESTOP shares in DRS.

100% pulled from the DTCC and in YOUR NAME.

1
scurfie 1 point ago +1 / -0

Absolutely.

2
Medicnz3 2 points ago +2 / -0

Worse

33
dbsupernova 33 points ago +33 / -0

Doesn't that open up the board to being sued over breaching their fiduciary duty?

10
SoMuchWinning45 10 points ago +10 / -0

Doesn't that open up the board to being sued over breaching their fiduciary duty?

They need to convince shareholders that Musk's deal wouldn't be good for them.

7
GaIIowBoob 7 points ago +7 / -0

They need to financially prove that the $51 per share offer is a bad deal. They can't.

2
Msmcontrolsnarrative 2 points ago +2 / -0

What's to prevent a lawsuit from a group of Twitter stock holders against the board from going forward?

4
Nomoralcompass89 4 points ago +4 / -0

If only there could be a class action lawsuit from every American with a 401k. I know two of my investments list twitter in its top 10 holdings. The others probavly also still have it, but not to a point its in the top 10.

1
John_Mac_n_Cheese 1 point ago +1 / -0

The shareholders being liberals cheerleading the board of directors for rejecting Elon's offer.

1
SoMuchWinning45 1 point ago +1 / -0

Nothing prevents it, just saying that the board simply refusing the offer isn't enough to sue, there are certain conditions that need to be met.

6
Hoshi 6 points ago +6 / -0

Elon posted a twitter message yesterday that showed the 12 month price expectation for twitter was going to be 30 dollars a share to hint at what the board is giving up I think.

21
amarQ144 21 points ago +21 / -0

How ever this progresses, I bet Elon makes a huge profit and twit takes it up the ass.

4
VetforTrump 4 points ago +4 / -0

Whatnot he oubles his money and then puts it in dwac

2
Msmcontrolsnarrative 2 points ago +2 / -0

I would be shorting the shit on Twitter stock right now.

14
UltimateMastermind 14 points ago +14 / -0

Hey guys I know what is going to happen to twatter, fakebook, other globohomo companies. They all are going to sink.

4
queue-anon 4 points ago +4 / -0

Class action lawsuits can be very effective - Q

1
okaygroomer 1 point ago +1 / -0

Gay disco is coming to an end.

8
2
rabernet 2 points ago +2 / -0

Great article - I like Cuban's hypothesizing too.

6
deleted 6 points ago +7 / -1
3
PaNix 3 points ago +3 / -0

He doubles down. Im telling yall. How can thay be a bad move here. Seems like the ONLY answer

1
DireCarbon 1 point ago +1 / -0

Im with you. All eyes are on, let them try to short sell on his pull out dip. He really looks to have the pieces in place for a checkmate. We shall see.

1
John_Mac_n_Cheese 1 point ago +1 / -0

Yeah, I don't know enough about stonks to really know, and I know 9% is not anything to sneeze at but...I don't see why so many on here think selling 9% is gonna just absolutely cripple Twitter. Maybe I've spent too much time in crypto and am conditioned to see 5-15% +/- swings almost daily, idk...

4
000000001 4 points ago +4 / -0

So shareholders may start a class action?

u/#q1105

4
xkgb 4 points ago +4 / -0

If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty.

The liability they would thereby assume would be titanic in scale.

Looks like shareholder lawsuit is possible. Anyone know if it's too late to buy shares in order to join in on a class action suit?

2
electricbroth1 2 points ago +2 / -0

I thought about that

4
G45Colt 4 points ago +4 / -0

What's the float on a company like twatter? I bet it's less than 9%

Imagine what 9% of twatter stock being dumped will do to the share price? Also consider that Musk was buying up that 9% over time, and now decides to let it go.

I think the board gets exposed either way, and the SEC gets exposed even more after the whole Game Stop thing. I know a couple of libs who began questioning Wall Street after that fiasco - kind of shocked me at the time.

2
PaNix 2 points ago +2 / -0

Hedges are shorting the shit out of Twitter waiting for this my man

1
G45Colt 1 point ago +1 / -0

Any naked shorts?

-6
GaIIowBoob -6 points ago +2 / -8

Share prices don't move on buys and sells, just news. It didn't when he bought

4
Cheesemaker 4 points ago +5 / -1

It literally moves purely on buy and sell orders... news increases or decreases orders accordingly.

1
GaIIowBoob 1 point ago +1 / -0

That's how it's supposed to work, but point at the huge buy orders when he bought in and try to explain why the price literally didn't move at all while using supply and demand to make it sound like crime and manipulation aren't the only thing that gives any movement

1
iideathyii 1 point ago +2 / -1

it would in a fair market, but right now market maker algos are controlking the prices of the entire market. It is all rigged

2
Cheesemaker 2 points ago +2 / -0

Don't disagree that market makers are heavily manipulating the market but it's still done via buy and sell orders.

1
GaIIowBoob 1 point ago +1 / -0

They don't manipulate on orders. If they did the price would have moved when elon bought. It didn't.

It moved when he announced because they git caught manipulating. That's how the market *actually works. Orders don't matter, just the illusion when news makes them move it so it seems less manipulated

1
DireCarbon 1 point ago +1 / -0

No one ever taught you supply and demand? Yes it is all controlled and manipulated, but they have to maintain the illusion to make it all work.

2
GaIIowBoob 2 points ago +2 / -0

It would be pretty cool if they stop manipulating and let supply and demand impact market prices for once

3
StormRanger 3 points ago +3 / -0

I'm sure Elon had this all figured out ahead of time.

3
TCPatriot 3 points ago +3 / -0

Am I oversimplifying this, because it appears to be dick swinging contest in a race to the bottom?

Twitter suicide?

4
335K 4 points ago +4 / -0

Immediately thought "suicide* (weekend?l as well...

I think that's because of the recently stickied thread on the subject, however Q does speaketh cryptically. 🤔

2
polish_snausage 2 points ago +2 / -0

Sell sell sell!!

2
PaNix 2 points ago +2 / -0

No!!!! Hedges shorting twitter anticipating that will make millions

1
polish_snausage 1 point ago +1 / -0

Oops sorry. I was only thinking that the employees probably have lots of it

2
ErOsion9o 2 points ago +2 / -0

You can't win against a rigged system

2
Jacurutu99 2 points ago +2 / -0

It's a cash offer, and a generous one at that, and I do suggest they take it.

2
Hugo13 2 points ago +2 / -0

They already rejected it

0
Jacurutu99 0 points ago +1 / -1

They think they already rejected it. Wait until shareholders start asking why THEIR money is being played with.

2
DaPurrs 2 points ago +2 / -0

Elon could just buy more, today....

1
PaNix 1 point ago +1 / -0

Thats the right answer

2
mattroomsq 2 points ago +2 / -0

Let the class action suits from the share holders begin.

2
Infidel440 2 points ago +2 / -0

Whatever they choose to do, Twitter is screwed.

2
Foomer 2 points ago +2 / -0

White hats are totally in control bros

1
PaNix 1 point ago +1 / -0

I've hear Goldman sachs is now shorting twitter so they make millions when elon sells off and the stock dips. Elon needs to double down. Maybe that was his "plan D"

1
VetforTrump 1 point ago +1 / -0

Hr can have them purchased through a number of entities

0
davidwilcox 0 points ago +1 / -1

Did Elon say he was trying to buy more Twitter?

1
John_Mac_n_Cheese 1 point ago +1 / -0

He wants all of the Twitter.

-1
jEs2We9Qbw -1 points ago +1 / -2

Wait, so he could buy a bunch, and cause maybe a friend of his to buy more at a discount, and then buy those back from a friend at a discount?