Elon Musk said On Saturday that the economic interests of Twitter’s board were at odds with shareholders. The billionaire responded to a tweet about board members’ holdings, saying that with jack Dorsey’s departure, the board was “collectively almost non-shareholding.” Twitter on Friday developed a shareholder rights restriction program that could block Musk’s hostile takeover offer.
The plan is feasible if a party acquires 15% of the shares without prior approval and seeks to ensure that anyone who controls Twitter through open market accumulation pays an appropriate control premium to all shareholders.
Musk has been launching a social media campaign to influence public opinion in favor of his bid. tesla co-founders tweeted Thursday that the board would be held accountable if it took action against shareholders. he also thanked the followers who voted for his bid in online polls.