By Nick Arama |Apr 16, 2022
Twitter announced that they would be pulling a “poison pill” effort to defend against Elon Musk’s effort to buy Twitter. That move wasn’t in the best interests of the shareholders and could subject them to lawsuits. Musk said he had a “Plan B,” if Twitter tried to cut off his effort. According to reports, Musk is now securing partners to go in with him on the buy. So if he is limited in the percentages he can buy, he can try to circumvent that limitation by having partners buy up to the maximum as well.
At the same time, there was a report that the SEC and the DOJ were looking into some of Musk’s prior actions. The timing of that report looked like it was an effort to interfere in Elon’s bid for Twitter, either by smearing him or warding him off. It didn’t work, since he’s still forging ahead.
My Take - This has now been added to my commentary, Twitter, Elon Musk and My Take.
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