Elon Musk Twitter Takeover
It was implemented in response to several Mexican officials and the Bidens administration in May for a restricted immigration policy. The former Twitter CEO has publicly criticized the company’s board as it evaluates a takeover bid from billionaire, Elon Musk.
Jack Dorsey responded to a Twitter user, describing the board’s early history, saying it’s been a constant dissolution of the company. Dorsey is still a member of the plan to leave after his term ends in May.
Musk tweeted Saturday that the Twitter board knows no shares the quote with Dorsey reporting. They say that the board’s economic interests know no bounds. More on this last week for $43 billion to CBS News Tech for buying Twitter.
Dan, it’s great to see you and you updated with the saga and we know the board has worked on something known as a poison pill. Explain what this means and why it has been stalling things for a while.
Nice to see you too. Another twist in the saga. This poison pill is shortfall of stock or a proposed resolution of stock the board will say that if any shareholder means 15% shareholder then they will approve the other shareholder to share the stock as less price and the share is reduced.
To take the owned company hostilely and it will reduce their percentage of ownership. Are there any other serious suitors out there? No one is over as Elon Musk, we know, is one of the options Twitter is looking for potential co-financers and other companies to come to Twitter or simply take them over to fund the company.
It’s all very complicated and an episode of “Game of Thrones” I want to ask you about Dorsey’s possible departure from board in May. How does this affect what the board does and what Elon Musk hopes will not have the same direction and influence as he does now or did in the past.
We know that Dorsey and Musk are foes and that they have an indirect influence on Twitter, not only the board and the company but the entire management culture Dorsey plays a huge role in. We know that Elon Musk has offered to take his offer directly to shareholders, should he do so.
And if the shareholders say yes, I want a bigger payout, so let’s go with it, is the board’s power to stop? The board is not powerless. Elon may say he wants to do it but he’s not as fluid as he pretends to be.
Over the weekend I talked to people who said they would have to set up 5% of Tesla to get the cash they needed and that it would be a huge sacrifice on their part.
He may partner with other capital firms to fund it but it’s not as direct as he might have interacted on Twitter. They might say let’s find a better price that can dilute it, like we talked about earlier.
And they can only find other funding partners and change finances. It’s interesting about the point that he isn’t as fluid as everyone would like him to be. It sounds like a game of poker.
Who’s buffing here? When will everyone show their card? Everything he does is not direct and we must take everything he does and says, even with this potential takeover of Twitter.