Twitter has taken action to protect itself with Elon Musk takeover
Twitter has taken action to ...
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Twitter has taken action to protect itself with Elon Musk takeover

15 April 2022
6437
1 min.
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Twitter has taken action to protect itself with Elon Musk takeover

CEO of Tesla and Twitter

Twitter (NYSE: TWTR) on Friday adopted a restricted shareholder rights plan to protect itself from billionaire entrepreneur Elon Musk's $43 billion cash takeover offer.

Musk made the offer in a letter to Twitter's board on Wednesday. It also came to light after Elon Musk's statement appeared in a regulatory report on Thursday.

Under the plan, aimed at resisting a bid from a potential buyer, the rights would become available if someone acquired ownership of 15% or more of Twitter's outstanding ordinary shares in a transaction not approved by the board.

However, Twitter says the plan expires on 14 April 2023.

Shares in Twitter (NYSE: TWTR) closed at $45.08 in yesterday's trading, down -1.68%. The high per share was US$48.50 and the low was US$44.72.

Moreover, over the last five days, the social network's shares have fallen by -4.69%.

It is worth noting that today the company has a market capitalisation of USD 34.42 billion.

Twitter was founded in 2006 and is headquartered in San Francisco, California.

The company's leadership:

Parag Agrawal - CEO;
Leslie Berland - CMO;
Kayvon Beykpour - GM of Bluebird;
Dalana Brand - CPDO;
Nick Caldwell - GM of Core Tech;
Jack Dorsey - Founder;
Bruce Falck - GM of Goldbird;
Vijaya Gadde - Head of Legal, Policy, and Trust;
Lindsey Iannucci - VP of Operations;
Sarah Personette - CCO;
Ned Segal - CFO.

Persons12 and Companies1 in the news

Former Chief Financial Officer at Twitter
1 place
Head of Twitter’s customer-facing operations, overseeing global advertising sales, agency relations, revenue operations, and brand strategy consultation
2 place
Vice President operations and chief of staff at Twitter
3 place
Head of legal, public policy, and trust and safety at Twitter
4 place
General manager of Goldbird at Twitter
5 place
General manager for Core Tech at Twitter
6 place
Chief People and Diversity Officer at Twitter
7 place
General manager for Bluebird at Twitter
8 place
Chief Marketing Officer at Twitter
9 place
Former Chief Executive Officer of Twitter
10 place
Chief Executive Officer of Square
11 place
CEO of Tesla
12 place
X (Twitter)
1 place
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