We knew Twitter wouldn’t give in to Elon Musk’s proposal so easily. When the billionaire offered to buy 100% of Twitter’s stocks, it was so he could remake the social network into a true, free speech platform. He made that much clear in his letter to the board. There was little chance they would let that happen, no matter how much money they’d stand to get.
Twitter’s dark philosophy of controlling speech means more to them than making money. To the left, censoring views they don’t agree with is part of their religious-like devotion to their views. They can’t let conservatives, Republicans, Trump supporters, Christians, etc. have an equal platform on their network. Otherwise, people might reject the left’s radical, socialist dogma.
That’s the main reason leftists “cancel” people and push “hate speech.”
Twitter’s board created a “poison pill” to prevent Musk from buying the company. It would flood the market with new stock, allowing others to buy it cheaply, and forcing Musk to spend more to buy the company. It would also destroy Twitter’s value if Musk decided not to buy. But even with this terrible strategy put into place, Musk can still take over the failing, socialist platform.
Despite throwing a massive roadblock in Musk’s way, the adoption of the poison pill would not bar Musk from being able to buy the company, it would only make it harder…
There are three possible outcomes now, none of which are ideal for Twitter’s current board: Musk could win by successfully initiating a proxy contest to remove the directors and nix the poison pill; Musk forces the company to find a “white knight,” or alternative buyer, potentially at a higher price, thus making his shares more valuable; Musk walks away and leaves the company and the board facing a pile of lawsuits as shareholders blame them for hurting the value of their stock.
The New York Post reported on Friday that Musk was speaking with other investors who may align with his vision for the company in an effort to get more financial backing so that he can take over the company. [Source: Daily Wire]
Musk is worth somewhere between $200 and-300 billion. But a “poison pill” would make it very hard for him to buy Twitter. Is he willing to burn through his wealth, just to acquire a third-rate social network? Unlikely. The board’s move to put this rule in their bylaws, though, will hurt them more than Musk.
But it seems like he is exploring ways to buy the company, anyway, as experts have predicted. It has been reported that Musk could partner with other investors who agree with his vision for the company. With their funds, they could buy the company, regardless of the poison pill, and implement Musk’s changes.
Well-known investor Mark Cuban even floated the idea that Musk could team up with billionaire Peter Thiel—a noted Trump supporter—to buy the company.
There’s no telling what might happen next. But we can safely say that if Musk doesn’t buy Twitter, it would mean its board is totally committed to a hostile environment where free speech is not allowed. That could turn off investors and users in a big way. It could be the beginning of the end for the company.
Author: Mac Davis
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