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PROVIDE, UR (AP) — excitement He said on Friday that the board of directors unanimously accepted the “poison pill” defense. tesla CEO elon musk‘ offer to buy the company and get private.
excitement He said the move, officially called a “limited-term shareholder rights plan,” aims to enable its investors to “realize the full value of their investment” by reducing the possibility of anyone taking control of the company without paying a premium to shareholders. or giving the board more time. Poison pills are often used to defend against hostile takeovers.
excitementif the plan goes into effect Muskroughly 9% stake goes up to 15% or more. Even then, Musk He can take over the company in a proxy war by voting for the current directors. excitement He said the plan doesn’t prevent the board from engaging with the parties or accepting an acquisition offer if it’s in the company’s “interest”.
excitement A securities filing on Thursday revealed that Musk had offered to buy the company for more than $43 billion, saying the social media platform “must be transformed as a private company” to build trust among its users.
“I believe freedom of speech is a societal imperative for a functioning democracy,” Musk said in the filing. “I understand that the company in its current form will neither thrive nor serve this societal imperative.”
During an onstage interview at a TED conference later Thursday, he is further expanded: “Having a maximally reliable and broadly inclusive public platform is critical to the future of civilization.”
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