JUST IN - Twitter's board invokes "poison pill" in an attempt to thwart Elon Musk's takeover - a defensive response that could lead to a massive dilution of existing shareholders.
In the past, similar "poison pills" allowed some inept and fraudulent boards to hold public companies literally hostage, thus negatively affecting key stakeholders, including the general public.
#Twitter's share price has chopped along sideways for 9 years and today hovers around its 2013 IPO price. The idea that Twitter, which is no longer founder-driven, is going to unlock more value than the 20% premium of Musk's offer is probably not credible.