redstate.com By Nick Arama
Elon Musk is still in a battle with the Twitter board in his effort to buy Twitter. The board is trying a poison pill defense, making it problematic to acquire more than 15 percent of the shares of the company to try to hold him off. But as we noted, Musk is reportedly looking to partners to potentially get around this effort. That sounds like the âPlan Bâ that he promised.
Musk has also pointed out that putting out a poison pill effort rather than the board accepting his offer, which would be very beneficial to the shareholders, is not acting in the shareholdersâ best interests. Legally, that could be very problematic for the board.
Musk also dunked on the board and asserted that it would be âriggedâ if he wasnât able to buy it. He noted that with Jack Dorsey leaving the board, the board members own virtually no shares, so their interests are not aligned with those of the shareholders. One board member had never even logged onto the site.…
