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Twitter’s Strategy Of Using ‘Poison Pill’ To Block Elon Musk’s Buyout May Not Be Enough To Prevent Takeover

Musk is reported to be in talks with other investors

BRITTA PEDERSEN/POOL/AFP via Getty Images

From DailyWire.com…

Twitter’s attempts to stop entrepreneur Elon Musk, the world’s richest man, from buying the company by adopting a so-called “poison pill” defense may not be enough to stop Musk from succeeding in his quest to take over the company.

A “poison pill” effectively allows all shareholders, except those trying to buy out the company, to purchase newly offered shares at a discounted price. Musk would have to purchase the new shares at a higher price, which could end up being too much for him to afford, if he wanted to takeover the company.

 

The Washington Post reported:

Despite throwing a massive roadblock in Musk’s way, the adoption of the poison pill would not bar Musk from being able to buy the company, it would only make it harder.

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