hph6203 said:
There's a large gap between Warren Buffet and a person suggesting that Elon getting another person to trigger the option issuance and buying the company at a discount. It is a fundamental lack of understanding of the mechanisms at play.
Wow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders.
— Elon Musk (@elonmusk) April 16, 2022
Twitter Board: Let’s dilute the stock to hell so @elonmusk can’t take control! $TWTR Shareholders: Excuse me?
— Whole Mars Catalog (@WholeMarsBlog) April 15, 2022
Man, the libs sure love to play around with other peoples' money. That board should be fired en masse today.aggiedata said:
Solid pointWow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders.
— Elon Musk (@elonmusk) April 16, 2022
At least some of them should have skin in the game.Quote:
Man, the libs sure love to play around with other peoples' money. That board should be fired en masse today.
aTmAg said:
Do people really put "MBA" after their name?
And I thought PhDs that demanded to be called "doctor" were hilariously obnoxious.
aTmAg said:
Do people really put "MBA" after their name?
And I thought PhDs that demanded to be called "doctor" were hilariously obnoxious.
sicandtiredTXN said:
Look closely at that board member list and what do you see?
Musk has an ally in there laying in the weeds.
Silver Lake Partners, was planning to co-invest with him in 2018 when he was considering taking Tesla private.
Silver Lake's Co-CEO Egon Durban is on that Twitter board member list.
Hmmm
Quote:
In the case of PeopleSoft's pill, if Oracle crossed the 20% trigger threshold (a so-called "Trigger Event" in pill-speak), all other PeopleSoft shareholders would have had the right to buy $380 worth of PeopleSoft stock (valued at the average trading price for the thirty trading days prior to the Trigger Event) by paying $190 cash to PeopleSoft, for each share of PeopleSoft previously held (a "Pill Exercise").
It is well-known in corporate law that a poison pill has never been deliberately triggered so as to unleash its full dilutive impact on the bidder.4 For this reason an actual Trigger Event would be uncharted territory. But consider hypothetically how a deliberate pill trigger would have played out in the Oracle-PeopleSoft context. PeopleSoft's average price for the 30 trading days prior to October 1, 2004 was $18.54. Normally the process of buying sufficient shares to trigger a pill would push the trading price up further, but in this case the share price already reflected the fact that PeopleSoft was in play. Therefore we can assume, as a rough approximation, that Oracle could have acquired its 20% stake in PeopleSoft (=73.0 million shares) at $18.54 per share, or $1.35 billion total.
The pill is triggered. If PeopleSoft does nothing (more on this below), the rights become exercisable after ten days, and all shareholders other than Oracle can pay $190 cash to PeopleSoft and receive PeopleSoft shares worth $380. If all eligible PeopleSoft shareholders exercised these rights, and using October 1, 2004 as the pill trigger date, PeopleSoft shareholders would have paid $55.5 billion in cash and received back 6.0 billion new PeopleSoft shares.
The issuance of 6.0 billion new PeopleSoft shares would dilute Oracle's previous 20% stake down to 1.1%. The value of Oracle's stake would drop from $1.35 billion to $715 million, or a $638 million loss for Oracle. All other PeopleSoft shareholders would share pro rata in the $638 million, assuming that they exercised their deep-in-the-money options.
Rockdoc said:will25u said:WSJ: Twitter CEO Agrawal tells employees that Elon Musk can't change company's culture
— Josh Caplan (@joshdcaplan) April 15, 2022
Where did this idiot come from anyway? Elon will change that culture faster than they change Biden's diaper.
BusterAg said:I was just telling my wife that now would be a great time to start searching for a used one on autotrader, but it will be a ***** to drive it back 250 miles at a time from SF.Swan Song said:
I'm wondering how many libs are embarrassed to drive their Teslas right about now.
BMX Bandit said:
77 shares? Huh?
Bidens leg hairs said:
https://redstate.com/nick-arama/2022/04/15/twitter-board-plays-poison-pill-but-elons-response-shows-hes-all-in-to-win-n551061
But that pill may not stop other entities or people from acquiring their own shares of up to 15% of the company. Those owners could partner with Musk to force a sale, make changes in the executive ranks or push for other overhauls of the company.
Twitter hasn't yet filed its shareholder rights plan with the SEC, though it announced the poison pill in a statement. The SEC filing will give more details on whether it prevents like-minded investors from teaming to buy a greater than 15% stake.
"This is not over," a source close to the situation said.
There's no need to change Twitter's culture - there's a need to amputate the gangrene. Entire departments are irredeemable and should be discarded.ravingfans said:Rockdoc said:will25u said:WSJ: Twitter CEO Agrawal tells employees that Elon Musk can't change company's culture
— Josh Caplan (@joshdcaplan) April 15, 2022
Where did this idiot come from anyway? Elon will change that culture faster than they change Biden's diaper.
Apparently they don't change Ole poopy pants duds all that often...
Bidens leg hairs said:
The Twitter board is no match for him, but Musk has a lot of dependencies on government subsidies. I'm sure Twitter has some skeletons in their closet too about collusion with the DOJ and the DNC. I'm afraid they're going to come out of the woodwork at Musk from way he never imagined.
hph6203 said:
China is so censorious that they don't even allow Twitter in their country, I don't think they're going to care what a platform unavailable I'm their country does.
Bidens leg hairs said:
https://redstate.com/nick-arama/2022/04/15/twitter-board-plays-poison-pill-but-elons-response-shows-hes-all-in-to-win-n551061
But that pill may not stop other entities or people from acquiring their own shares of up to 15% of the company. Those owners could partner with Musk to force a sale, make changes in the executive ranks or push for other overhauls of the company.
Twitter hasn't yet filed its shareholder rights plan with the SEC, though it announced the poison pill in a statement. The SEC filing will give more details on whether it prevents like-minded investors from teaming to buy a greater than 15% stake.
"This is not over," a source close to the situation said.
BAP Enthusiast said:aggie93 said:
This makes a LOT of sense as to why the Board is willing to go down in flames to stop Musk from buying Twitter. Their fear of being sued for fiduciary issues may pale in comparison to what might happen when Elon gets his own people in there to look under all the covers. The rabbit hole is likely very, very deep.Hi @elonmusk, have you considered that Twitter is blocking your offer because they are afraid you’d obtain documents proving they shadow ban and censor, which would contradict sworn testimony made before Congress?
— Cernovich (@Cernovich) April 15, 2022
This could be an Enron type scenario you’ve uncovered.
Twitter is basically a CIA run operation at this point, this is why they will never allow it to fall into the hands of someone like Musk. I believe the reality is probably much worse than Mike Cernovich is saying here.
