News/Commentary

Musk begins plan B, Twitter faces backlash for dropping ‘poison pill’

April 16, 2022 | | Print Article

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In a move that was predicted by many, Twitter has resorted to an extreme measure to prevent billionaire Elon Musk from taking over the social media giant.

On Friday, the board of directors voted to drop a “poison pill” despite the damage that such an action could bring, especially to shareholders who are clearly viewed as acceptable collateral damage if that’s what it takes to prevent the return of free speech.

Musk is reportedly speaking to private equity investors who could partner with him, sources told The New York Post.

It was a dramatic action that brings to mind the infamous Vietnam War-era quote that “We had to destroy the village in order to save it,” but these are desperate times for Democrats and their allies in Silicon Valley whose political woes could multiply exponentially if they lose the ability to maintain control over the narrative.

Twitter’s aggressive move likely violated the board’s fiduciary responsibility to shareholders and could bring a flood of lawsuits that could be biblical in nature, a possibility that Musk himself suggested.

“If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty,” Musk wrote this week. “The liability they would thereby assume would be titanic in scale.”

The implications could definitely be “titanic,” as in RMS Titanic.

Investopedia describes a poison pill as follows:

“The term poison pill refers to a defense strategy used by a target firm to prevent or discourage a potential hostile takeover by an acquiring company. Potential targets use this tactic in order to make them look less attractive to the potential acquirer. Although they’re not always the first—and best—way to defend a company, poison pills are generally very effective.”

The SpaceX/Tesla CEO also spoke of a “Plan B” when asked if he has a fallback option during an interview at a TED conference in Vancouver on Thursday.

Twitter was absolutely buzzing after the company’s attempted checkmate of Musk.

Clay Travis of Outkick and the nationally syndicated Clay & Buck radio program wrote, “I am a long time @twitter shareholder. Today’s actions by the board violate their fiduciary duty to maximize shareholder returns and if they don’t lead to a sell of the company for over $54.20 will lead to monster lawsuits costing the company billions of dollars.”

“Twitter’s insiders essentially just decided to screw over their shareholders, crash their stock, and open the company up to massive lawsuits just to prevent Elon Musk from running Twitter in a way that won’t rig elections or censor their political opponents,” tweeted digital strategist Greg Price.

He added, “Even if Elon doesn’t end up buying Twitter, he just exposed the censorship regime in a major way. He’s an outsider who won’t play by their rules and they’ll even deliberately dilute shares (which should be illegal) to continue their campaign of mass information control.”

Other reactions poured in to the board’s decision to secure the censorship regime over the interests of shareholders.

On Friday evening, the New York Post reported that Musk could be considering bringing in partners for his bid to gain control of Twitter but details are sketchy as of this time.

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48 thoughts on “Musk begins plan B, Twitter faces backlash for dropping ‘poison pill’”

  1. Musk should start his own Free Speech, NO Censorship version of Twitter- I am sure like everything else he touches- it would be a success

  2. If Twitters stock goes up to more than what Musk bought it for-he should sell off and cause the stock to crash. All these Leftist sites that censor Free Speech should be attacked and forced to stop or be destroyed. Republicans in Congress have failed to pass legislation to make ALL social platforms neutral and objective. Everyone has the right to say what they want, no matter how crazy or unsupportable by facts, and everyone has a right to reply to those comments or arguments anyway they want

  3. Now that Musk has exposed the Free Speech violation he might follow up with law suites that bankrupt Twitter.
    Maybe Musk could take a interest in Facebook while he is at it.

  4. Musk has already won. Like Trump did exposing the biased censoring and corrupt MSM, Musk is exposing the social media guilty of same tactics.

  5. Simple……Parag Agrawal just skrud the pooch.
    Elon earned his billions at the high stakes poker table with CEOs that probably all drive Teslas.

  7. When one sees all of this going on over free speech for all one has no option but to accept twitter, and all the rest of social media, collude to deny selected groups or people their right to speak and be heard by all. If internet can’t do it, government intercession MUSt be done.

    1. My option is I’m not on social media with the exception of logging in occasionally to BPR to give my 2¢.

  10. I can’t imagine why anyone would be surprised by Twitter’s action. Shareholders should sue Twitter and its Board into oblivion.

  11. Elon WILL win. Imagine the sabotage by twit workers when he does. Vengeful little feks.

  13. Reality aka “the light of day” and “fresh air,” what a beautiful thing. Well played, Elon.

  14. As I predicted in 2020, tweeter’s founder’s actions will have consequences that would bring down organization and screw the stockholders. Musk has them by the throat. LET’S GO BRANDON ! WeLoveTrump.com

  15. Plan B – Part I is already in play ….

    Get the popcorn and rootbeer .. this is going to be a lot of fun to watch!!! 😂

  16. If anyone knows what the Poison Pill is, why don’t they say what it is rather than give us word salad? Does anyone know what was contained in the Board directive, otherwise known as the Poison Pill?

    3. Twitter’s Board is tanking its own stock and screwing over its shareholders. That is more important to them than losing their strong-arm censorship. The lawsuits that will follow will be legion.

      1. They are going to find out what’s more important. Elon will wind up owning the company and totally transform it for the better. That’s why the old adage holds true. “Money talks and 🐂 s**t walks”.

    4. In the event that Musk bought 15% of the shares twatter would then sell shares at a very reduced price.

  17. I’ll be more than happy to join the lawsuit. I will win either way. They are hiding their illegal activities, can’t hide what we all knew that they were silencing anyone who opposed their agenda, starting with Hunter’s laptop discussions.

  18. WHY does this website trigger a VIDEO – FULL SCREEN VIDEO anytime you type an “f”??? It’s inFuriating!!! I might just STOP reading these articles due to the stupid comment app!

    3. Just substitute an = for that letter. It is =rustrating that they are doing this. They have ensured that I will NEVER watch Tommy’ Garage because o= this nasty little trick.

    4. And yet BPR asks you to “donate” every time you pull up the site. BPR doesn’t come to my email anymore. I have unsubscribed. I log in occasionally to give my 2¢.

  19. Mr. Musk is like the guy leading the bear hunt! A group go BEAR Hunting way up in the back woods. The organizer tells the group “you all get the cabin set up and I’ll go scout for bears”. An hour later they hear yelling and screaming and look out to see their organizer running down the mountain with a great big bear right on his butt. They organizer runs into the cabin with the bear right behind him and then all hell breaks out in the cabin. He then dives through an open window and say “Ok – you guys skin this one and I’ll go FIND ANOTHER ONE”!! So after twattr does the self immolation thing, WHO’S NEXT??????? Maybe he’ll buy cnn+ for a nicklel!!

  21. [pulls up folding chair, sets out soda, cocktail weenies, and popcorn….cracks knuckles]

  23. I’ve never tried to get on twitter having been kicked off facebook for being a conservative. Deep sixing twitter would just eliminate one of the far left unacceptable so-called social media. It would be good riddance!!

    1. I like the cute animal clips and can’t do much else since they restrict viewing to SUBSCRIBERS! I’m like you in that I’d be BANNED rather quickly! I have very little patience for fools!!

  24. ALL shareholders who have Voting Stock in Twitter should Vote the Board out and do the sale with Musk ! It CAN be done and it SHOULD be done especially since the “board” no longer represents the Shareholders who actually OWN the company !

  25. I do not use Twitter nor do I have any stock in that company. I do think it is funny as hell that Musk is making the Dems soil themselves.

  26. Wouldn’t it be great if Elon Musk partnered with President Trump to purchase Twitter?
    Wouldn’t that just fry their potatoes! 🤣

  27. If the “Swamp” can bring down a president-they can block or maybe destroy Elon Musk. I think he realizes how corrupt and partisan our country on every level has become. The best thing he could do is tell every freedom loving American to stop using Twitter and create his own platform that guarantees Free Speech. I have never used it and never will and I am just fine

  28. Elon Musk is a smart man. Whatever he has in mind, whether it be Twitter to comply with free speech or take down the platform, I don’t know. I do know he has a fight on his hands.

    If Congress would have done its job everybody would have had free speech. We all know we don’t have a governmental Congress anymore, in fact, we don’t have a government for the people. As one President said on, Aug. 12, 1986, President Reagan said, ”the nine most terrifying words in the English language are: ‘I’m from the Government, and I’m here to help.’ “

    We have been reminded of this in the past and it surely is justified today! The whole government is a deep cabal and as true Americans, we are taking her back, since we know that this is the best country on earth, The United States of America! Vote as if your life depends on it BECAUSE IT DOES!

    Back to the Big Tech, Congress held at least 4 to 6 hearings on these traitors, and they did NOTHING! Why? Are they in their pockets? HMM

    1. I would like to compliment you on your comment because it is true and very heart felt. As you state in your second paragraph we need to take our country back but I’m not sure that voting is going to be the way to do that. I say this because one are you or anyone else convinced that our vote is even going to count, but also do we really believe the person we are voting for has the American Peoples interest at heart, I for one do not believe they do. I honestly believe short of a revolution that it is going to take good people such as Elon Musk and others to infiltrate the system of the Deep State and tear it down from within which is what he appears to be trying, setting up a competitive site to Twitter, Face Book, and Google is not going to work as that has already been tried.Our Government and the world knows that if Free Speech is aloud to prevail they can never succeed in the power they desire to hold. If people do not agree please tell me why we had Obama on TV stating how Free Speech should end and is dangerous?

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