Re:Ask HN: What happened to Twitter poison pill?
by agency on Monday April 25, 2022 @07:04PM
(#31161979)
The pill was put in place to prevent a hostile takeover, not to prevent any sale. Twitter accepting the offer does not constitute a 180.
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Re:Ask HN: What happened to Twitter poison pill?
by hammock on Monday April 25, 2022 @07:19PM
(#31162117)
A week ago, the Twitter board rejected Musk’s offer to buy Twitter for $54.20 a share.
Today, the board accepted Musk’s offer to buy Twitter for $54.20 a share.
What is that if not a 180?
Re:Ask HN: What happened to Twitter poison pill?
by agency on Monday April 25, 2022 @07:44PM
(#31162314)
Last week’s offer was a non-binding proposal (from someone with a track record of saying “funding secured” for going private transactions that were not in fact secured). The pill forced Elon to come back with a real offer that disclosed specifics about the financing. It may be the same price but it’s not the same offer as last week.