The 'poison pill' provision will be triggered if Musk (or any other investor) acquires more than 15 per cent of the company's shares. Musk currently owns around 9 per cent of Twitter's shares
Musk currently has about $3 billion in cash or other somewhat liquid assets after spending $2.6 billion buying a 9.1 per cent stake in Twitter in recent months, according to calculations
Elon Musk has secured $46.5 billion in funding to buy Twitter Inc and is considering a tender offer for its shares, a filing with U.S. regulators showed
Musk is evaluating various packages of debt, including more senior debt known as preferred debt and a loan against his shares of Tesla, the electric carmaker that he runs, two of the people said
Koo's latest move comes at a time when transparency and free speech concerns have dominated the public narrative around social media platforms such as Twitter
The offer from Musk, who has hinted at the possibility of a hostile bid, has prompted the social media company to adopt a 'poison pill' to protect itself
Musk had earlier posted a tweet with "Love Me Tender," bracketed by musical notes
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Twitter has hired Goldman Sachs and JPMorgan Chase, the latter of which has sparred previously with Musk over the valuation of millions of dollars in Tesla stock warrants
The stock rose 3.8% to $46.78 at 1:00 p.m. in New York.
Musk tweeted an Elvis Presley song, a day after Twitter Inc adopted a 'poison pill' to protect itself from the billionaire's $43-bn cash offer to buy the social media company
Dorsey, who left Twitter in November last year -- handing over the baton to Indian-origin Parag Agrawal -- remains a board member until next month with his 2.2% share
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Musk was responding to a tweet about board members' stock holdings, saying that with the departure of Jack Dorsey, the board "collectively owns almost no shares."
If he should become Twitter's owner, Musk said he would scrap the current program of content monitoring and censoring
Taking Twitter private will not help free speech
Earlier, Musk demanded an Edit button, and the micro-blogging platform announced that it is working on such feature that will allow users to correct errors in their tweets, albeit with some rules
Musk still remains the largest individual shareholder