NEW: Twitter Implements ‘Poison Pill’ To Thwart Musk’s Offer

Twitter chose to implement a “poison pill” method in response to Elon Musk’s offer to buy the platform and make it private for $43 billion.

The platform’s board of directors issued a new “shareholder rights plan” in an effort to thwart Musk’s offer. The move is known as a “poison pill” and was aimed at preventing a hostile takeover.

A press release from Twitter said the plan was implemented after it received “an unsolicited, non-binding proposal to acquire Twitter.”

“The Rights Plan is intended to enable all shareholders to realize the full value of their investment in Twitter,” Twitter said. “The Rights Plan will reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interests of shareholders.”

Interestingly, the platform didn’t completely close the door on the offer and added that “the Rights Plan does not prevent the Board from engaging with parties or accepting an acquisition proposal if the Board believes that it is in the best interests of Twitter and its shareholders.”

Twitter also stated that the plan would end on April 14, 2023.

Twitter’s response was slammed on the platform.

Ezra Levant, the publisher of Rebel News, said Twitter made the move so it could continue to “censor the world.”

“Twitter’s existing owners don’t value it for financial reasons,” he tweeted. “They value it for political reasons: the ability to censor the world. Musk can never offer them enough, because for them it’s not about money, it’s about power.

Sean Davis is the CEO and cofounder of The Federalist.

“The insane response to @elonmusk‘s proposal to buy Twitter at a significant premium proves that he isn’t acquiring a private company, he’s acquiring a global government censorship engine,” he tweeted. “Capitalists don’t turn down $10 billion in free money. Only totalitarians would do that.”

Steve Deace, host of BlazeTV, welcomed the clash between Big Tech and billionaires. 

“I love that Twitter swallowed its own poison pill by openly admitting in public it would rather screw its shareholders, and tank its own stock, than give up its agenda,” he tweeted. “Thanks to @elonmusk this is all in the open now. And I’d rather have the war anyway.”

Conservatives are being attacked. Contact your representatives and demand that Big Tech be held to account to mirror the First Amendment while providing transparency, clarity on “hate speech” and equal footing for conservatives. You can contact CensorTrack to report censorship.

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