The Twitter Board of Directors has implemented a “poison pill” that will sell more shares at a discount if any single investor buys more than 15% of the company. This will make it much harder and much more expensive for Elon Musk to buy Twitter.
This will no doubt spur a battle between Musk and Twitter, with some very expensive lawsuits.
But Musk can afford that, and I get the feeling his “Plan B” (which he claims exists but he has yet to explain), will be devastating.
Oh yes, regarding the Saudi Arabia response – from Fox News:
“I don’t believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects,” Alaweed tweeted Thursday. “Being one of the largest & long-term shareholders of Twitter, [Kingdom Holding Company] & I reject this offer.”
“Interesting,” Musk cheekily responded on Twitter. “Just two questions, if I may. How much of Twitter does the Kingdom own, directly & indirectly? What are the Kingdom’s views on journalistic freedom of speech?”
Free Speech is at stake here, Twitter is a bunch of assholes who censor opinions that they disagree with.