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To prevent Elon Musks plan to buy Twitter the board of directors has adopted a strategy

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Twitter Inc. has adopted a safeguard that would protect it from hostile acquisition bids to resist attempts by billionaire investor-inventor Elon Musk to take control of the firm.

Two days after Elon Musk made a bid to buy 100% of Twitter Inc.’s stock to take the firm private and turn it into a stronghold of free expression, Twitter Inc.’s board has devised a new strategy to ensure that no one gains control of the company through open market stock accumulation.

The business has implemented a ‘poison pill’ approach, under which the rights will become exercisable if anyone purchases 15% or more of Twitter’s stock in an unapproved transaction. To shield itself against billionaire entrepreneur Elon Musk’s $43 billion cash acquisition offer, the microblogging tech company devised a limited-duration shareholder rights plan.

The approach aims to ensure that anyone who gains control of Twitter through open market accumulation pays a reasonable control premium to all shareholders.

The firm stated that “the Rights Plan does not exclude the Board from negotiating with parties or accepting an acquisition deal if the Board feels it is in the best interests of Twitter and its shareholders.”

A poison pill defensive technique allows current shareholders to purchase additional shares at a reduced price, diluting the hostile party’s ownership interest. When confronted with hostile takeover circumstances, poison tablets are commonly used.

Twitter chose this method to purchase time to analyze and negotiate any agreement, according to Twitter officials. According to an insider, they could yet accept Elon Musk’s offer.

The Saudi Prince rejects Elon Musk’s bid to buy Twitter.

Elon Musk, the CEO of Tesla Inc., made an offer to buy Twitter for $54.20 per share in cash on Thursday, valuing the firm at $43 billion. Musk had stated in his SEC filing that he had made his “best and last” offer after accumulating a stake in Twitter of more than 9% earlier this year.

As a result, Twitter’s board of directors convened on Thursday to assess Musk’s proposal to see if it was in the company’s and all of its shareholders’ best interests.

But, al-Waleed bin Talal, a Saudi Arabian billionaire businessman, refused to sell his 5.2 percent interest in Twitter just hours after Tesla CEO Elon Musk offered to buy all of the company’s shares. For turning down Elon Musk’s offer, Talal noted Twitter’s future growth possibilities and low stock valuation.

Amid the uproar, Vanguard funds, a Malvern, Pennsylvania-based investment manager, displaced Elon Musk as Twitter’s largest stakeholder on Friday. Vanguard funds upped their stake in Twitter to 10.3 percent, making it the company’s largest stakeholder.

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Daughter and Two Complicit Parties Apprehended in Panvel for Murdering Mother Over Financial Control

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Panvel City police have arrested a 26-year-old woman, Pranali Pralhad Naik, and two accomplices for the murder of her mother, Priya Pralhad Naik, a 44-year-old resident of Pardeshi Aali in Panvel. Priya was found dead by her husband on the night of September 13. The post-mortem revealed that she died from asphyxia due to ligature strangulation, prompting her husband to file a murder complaint.

Deputy Commissioner of Police (Zone II) Prashant Mohite reported that technical evidence led to the identification and detention of two suspects, Vivek Ganesh Patil (19) and Vishal Amresh Pandey (19). The suspects confessed to the crime, revealing that Pranali had hired them to kill her mother. Patil, who claimed to be a ‘Tantrik,’ agreed to the job for money and brought Pandey along.

Pranali, who had been living with her parents since 2020 due to marital issues, was unhappy with her mother’s control over her life and finances. She wanted to take over the family’s properties and finances, which led her to plot the murder. On the day of the incident, Pranali left the house with her daughter, allowing Patil and Pandey to enter and carry out the killing.

The trio appeared in court on Monday and have been remanded to police custody until September 23.

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Action Against Contaminated STP In Ulwe Node Is Ordered By MPCB

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The Ulwe Node Sewage Treatment Plant (STP) in Sector 6, built by CIDCO to handle sewage from nearby housing societies, has been facing serious problems. Currently, only 10% of the plant is working, and most operations have been shut down for years. This has caused nearby housing complexes to suffer from bad smells, an increase in mosquitoes, and more cases of diseases like dengue and malaria.

Local residents have complained for the past five months, reaching out to the Maharashtra Navnirman Sena (MNS) for help. Despite MNS visiting the plant and asking CIDCO to fix the problems, nothing significant was done, frustrating the community even more.

Due to the pressure from local villagers and Ulwe residents, the Maharashtra State Pollution Control Board (MPCB) has now stepped in. The MPCB has ordered CIDCO to take immediate action against the contractor responsible for mismanaging the plant. Leaders from the MNS, including Raigad District President Sandesh Thakur, have been following up on the issue with both CIDCO and MPCB.

On August 13, MNS formally complained to the Maharashtra Pollution Control Board about the plant’s poor operations. Now, residents of Ulwe Node are keeping a close watch to make sure CIDCO fixes the plant and holds the contractor accountable. The involvement of the Pollution Control Board and the ongoing efforts of MNS are expected to lead to improvements in the plant’s operations and better living conditions for the affected residents.

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In Sector 17, Navsala Pavnara Maharaja of Vashi Draws Record-Breaking Crowd

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The Sarvajanik Ganesh Utsav Mandal of Sector 17, Vashi is celebrating its 40th year of Ganesh Utsav with the grand display of ‘Navsala Pavnara Maharaja,’ the biggest and most famous Ganesh idol in the area. This year, the main attraction is the stunning pandal, a replica of the Mysore Palace. Built by 40 artisans over a month, the huge 45×60-foot structure is drawing thousands of devotees every day.

The 13-foot idol of Navsala Pavnara Maharaja, affectionately called ‘Gajaraja,’ is portrayed in a royal ‘Raja’ pose, which has captivated the local community. Many devotees believe that their wishes have been granted by the Maharaja and have made offerings in gratitude. Sampat Shewale, President of the Mandal, shared that this year the Maharaja received several pieces of gold jewellery, including a golden Mukut (crown), a garland, armlets, and a waistband. One devotee even offered a 5 kg silver mace after his wish was fulfilled.

Besides the religious celebrations, the mandal is also dedicated to social welfare. They have conducted health camps for devotees during the festival and adopted 51 underprivileged students from Adivasi Taluka, providing them with education and medical support throughout the year. They also help students in need within the Vashi area.

During the festival the pandal regularly includes prayers, aartis, women’s bhajan sessions, and prasad distribution. A grand Satyanarayan Mahapooja was held on Sunday evening, adding to the spiritual atmosphere of the celebration.

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