<p>Elon Musk slammed Twitter on Thursday afternoon amid reports that it may block his attempt to buy the company after he offered to purchase the company outright for more than $43 billion.</p>
<p>Twitter&#8217;s board of &#8220;directors are weighing whether to move ahead with the poison pill — formally called a shareholder rights plan — that would limit the ability of a single shareholder, like Mr. Musk, to acquire a critical mass of shares in the open market and force the company into a sale,&#8221; The New York Times <a href="https://www.nytimes.com/live/2022/04/14/business/elon-musk-twitter">reported</a>. The poison pill tactic of warding off unwanted hostile takeovers &#8220;essentially lets the company flood the market with new shares or allow existing shareholders other than the potential acquirer to buy shares at a discount,&#8221; which &#8220;dilutes the bidder’s stake and makes buying shares more expensive.&#8221;</p>
<p>Musk said during an interview on Thursday that he wanted to buy Twitter because his “strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization.”</p>
<p>“I don’t care about the economics at all,” Musk added.</p>
<p>Musk then took to Twitter to conduct a poll, asking if taking the company private at $54.20 per share should be up to the shareholders and not the board, to which 84% of more than 1.3 million respondents answered, &#8220;yes.&#8221;</p>
<p>Musk then responded to a question from Nick Short, Communications Director for the Claremont Institute, who asked on Twitter, &#8220;If the board of directors at @Twitter reject the offer made by @elonmusk , then wouldn’t the board be acting in direct opposition to the financial interests of their shareholders?&#8221;</p>
<p>&#8220;Absolutely,&#8221; Musk responded. &#8220;It would be utterly indefensible not to put this offer to a shareholder vote. They own the company, not the board of directors.&#8221;</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">Absolutely. It would be utterly indefensible not to put this offer to a shareholder vote. They own the company, not the board of directors.</p>
<p>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1514686582745284651?ref_src=twsrc%5Etfw">April 14, 2022</a></p></blockquote>
<p>Musk then responded to a comment from entrepreneur Cameron Winklevoss about Twitter potentially using a poison pill to block Musk from taking over the company.</p>
<p>&#8220;Twitter is considering a poison pill to thwart @elonmusk &#8216;s offer,&#8221; Winklevoss wrote. &#8220;They would rather self-immolate than give up their censorship programs. This shows you how deeply committed they are to Orwellian control of the narratives and global discourse. Scary.&#8221;</p>
<p>&#8220;If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty,&#8221; Musk responded. &#8220;The liability they would thereby assume would be titanic in scale.&#8221;</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty. </p>
<p>The liability they would thereby assume would be titanic in scale.</p>
<p>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1514718700674306052?ref_src=twsrc%5Etfw">April 14, 2022</a></p></blockquote>
<p>Musk also posted a screenshot of Goldman Sachs&#8217; Equity Research rating for Twitter, which stated that the company was a &#8220;Sell&#8221; stock as it was falling behind performance forecasts.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="qme" dir="ltr">🤔 <a href="https://t.co/PfqYpLiuVd">pic.twitter.com/PfqYpLiuVd</a></p>
<p>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1514726980909948928?ref_src=twsrc%5Etfw">April 14, 2022</a></p></blockquote>
<p><strong>Related:</strong></p>
<ul>
<li><strong><a href="https://www.dailywire.com/news/elon-musk-no-longer-twitters-largest-shareholder-after-another-buyer-ups-its-stake-in-the-company">Elon Musk No Longer Twitter’s Largest Shareholder After Another Buyer Ups Its Stake In The Company</a></strong></li>
<li><strong><a href="https://www.dailywire.com/news/saudi-prince-rejects-elon-musk-offer-to-buy-twitter-musk-grills-him-in-tweet">Saudi Prince Rejects Elon Musk Offer To Buy Twitter; Musk Grills Him In Tweet</a></strong></li>
<li><strong><a href="https://www.dailywire.com/news/breaking-another-buyer-working-on-possible-bid-to-buy-twitter-as-musk-tries-to-take-over-report">Another Buyer Working On ‘Possible Bid’ To Buy Twitter As Musk Tries To Take Over</a></strong></li>
</ul>

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Musk Blasts Twitter Amid Reports They May Reject His Offer, Posts Goldman Sachs’ Rating For Company