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After Elon Musk officially declared his intent to Buy Twitter, Twitter had an all hands on deck meeting, which concluded with the adoption of a Shareholder Rights Plan, often called a poison pill, because it makes the company look less attractive to potential buyers, while being harder to acquire overall. The plan in question is that, strictly speaking, if Elon Musk goes from his current 9% stake to 15%, additional stock of Twitter will be made available to current stock holders at a discounted price, under the theory that the people will want to buy the discounted stock, and lowering Elon's 15% along the way. Shortly after news of the poison pill started to spread, many different reports on it in a positive and negative way were shared online.
BREAKING: Twitter passes a "poison pill" to prevent the world's richest man, right-wing billionaire Elon Musk, from launching a hostile takeover -- it allows shareholders to buy more shares if a single entity acquires 15% or more of the stock. RT IF YOU SUPPORT THE POISON PILL!
— Occupy Democrats (@OccupyDemocrats) April 15, 2022
Twitter passed a “poison pill” to stop Elon Musk from launching a hostile takeover.
Comment with a ‘Yes’ if you support the poison pill!— Nathalie Jacoby (@nathaliejacoby1) April 16, 2022
Did @Twitter executives gather feedback from stockholders before making the decision to use the poison pill? They have a fiduciary responsibility to do so. If anyone thinks this isn't about propaganda and forcing a narrative, ask yourselves why they haven't.
— The Patriot Page (@ThePatriotPage1) April 16, 2022
When Elon announced buying twitter, the stock went up.
When the board of twitter adopted the “poison pill” to prevent the transaction, the stock went down.
What is the market saying?
That they’d rather have Elon run it then the current board.
The market never lies.— Patrick Bet-David (@patrickbetdavid) April 16, 2022
After reporting of the news was over, the reactions and hot takes started to come out, with many people expressing views on something that hasn't been publicly seen in the business world in years. Various views expressed were how this could be nullified, how it is super effective, how Twitter doing it says something about society, and how everyone seems to be an expert now out of nowhere.
I'm guessing everyone will be an expert on "poison pill" corporate takeover defense by Monday.
— Scoot 😷 🌻 🇺🇦 (@ImpeachmentHour) April 16, 2022
Peter Thiel should buy 15% of twitter to trigger the "poison pill" and then Musk can buy up infinity shares.
— Lord Victor (@lordvictor) April 16, 2022
So a “Poison Pill” is when they create more shares out of thin air and give it to privileged individuals at a discount?
So the Fed literally poison pills our economy?— Hodl_Goggles (@Hodl_Goggles) April 16, 2022
The situation with Twitter and Musk tells a lot about America. Leftists would rather take a poison pill and burn it all down instead of letting someone they don't like personally be in charge. Remind you of anything?
— Bronson 🇯🇲 🇨🇦 🇲🇹🩸 (@Bronson00471184) April 16, 2022
For those that didn't exactly know what a poison pill was, there were some on Twitter who were ready, and gave historical data from past business's that took the poison pill, and what their eventual outcome was for both the company and the stock holders.
people who didn’t know the term poison pill were probably so psyched by “twitter to use poison pill on elon musk”
— law dog, esq. (@ggooooddddoogg) April 16, 2022
Twitter just adopted a poison pill in response to Elon’s $43B takeover bid.
Netflix did a similar maneuver in 2012 to thwart Carl Icahn.
Here’s how it played out:— Trung Phan (@TrungTPhan) April 15, 2022
Twitter is hoping to frustrate Elon out of his offer by imposing roadblocks like a post-offer poison pill. This is a defense tactic.
3 likely outcomes:
1. Twitter ends up in a shareholder derivative suit for breach of fiduciary duty for not properly evaluating the entire (1)— BowTiedRanger (@BowTiedRanger) April 15, 2022
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