Twitter poison pill is a defense mechanism that limits the ability of Elon Musk, and every other shareholder, to buy up Twitter shares in the open market.
Advertisement
New York/London (CNN Business) Elon Musk has made an offer to buy Twitter (TWTR) and take it private, saying he believes the company needs to be “transformed.”
According to a SEC filing, Musk has offered to acquire all the shares in Twitter he does not own for $54.20 per share, valuing the company at $41.4 billion.
Advertisement
Elon Musk said this was a “best and final offer,” representing a 54 percent premium over the day before he began investing in the company in late January, according to a Securities and Exchange Commission filing. It would value the company at about $43 billion.
In his SEC filing, Musk said that he believes Twitter has the “potential to be the platform for free speech around the globe.”
Musk has been a vocal critic of Twitter, suggesting that the platform stifles free speech.
Leave a Reply