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To prevent Elon Musks plan to buy Twitter the board of directors has adopted a strategy
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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CIDCO Announces 3,142 Winners in EWS Housing Lottery
Housing draw offers thousands of economically weaker families a chance to own affordable homes.
The Lottery
The City and Industrial Development Corporation (CIDCO) has announced the results of its housing lottery for applicants from the Economically Weaker Section (EWS), with 3,142 applicants declared successful.
The draw has brought relief and excitement to thousands of families who have been waiting for an opportunity to own an affordable home in the Navi Mumbai region. For many selected applicants, the result marks an important step towards fulfilling their long-awaited dream of home ownership.
The housing scheme is aimed at providing homes at relatively affordable prices to eligible families from economically weaker sections. With property prices remaining a major challenge for middle- and lower-income families in the Mumbai Metropolitan Region, such schemes offer an important opportunity for those struggling to find affordable housing. Successful applicants can check their results and follow the further procedures announced by CIDCO. They will need to complete the required formalities within the stipulated time to proceed with their housing allotment.
The announcement is expected to provide much-needed support to families seeking secure and affordable accommodation in the rapidly developing Navi Mumbai region. The CIDCO housing initiative is part of the corporation’s broader efforts to expand affordable housing opportunities and help more families move closer to owning a home of their own.
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NMMC Plans Citizen-Focused Initiatives Under Seva Sankalp Abhiyan
Month-long campaign to focus on better civic services, cleanliness, health and community participation.
The Initiative
The Navi Mumbai Municipal Corporation (NMMC) is preparing a series of citizen-focused initiatives under the ‘Seva Sankalp Abhiyan’, scheduled to be held from September 17 to October 17, 2026.
The campaign, announced by the Maharashtra Government, aims to improve public services and encourage citizens to take part in activities benefiting society. NMMC Commissioner Dr Kailas Shinde recently held a meeting with senior officials and school principals to discuss the plans. As part of the campaign, the civic body will organise Seva Setu, innovation challenges, cleanliness drives, health camps, art and elocution competitions, Anganwadi Utsav and digital literacy programmes for senior citizens.
Under Seva Setu, NMMC plans to assess basic civic facilities in tribal settlements, including drinking water, streetlights, sanitation, roads, drainage and healthcare. Special camps will also be held to help residents resolve pending applications related to birth and death certificates, marriage registration and property documents.
The campaign will also promote waste segregation, reduced plastic use, blood donation and fitness awareness. Students will be encouraged to share ideas for building a developed India. Through the month-long initiative, NMMC hopes to bring public services closer to residents while encouraging cleanliness, health, innovation and active community participation.
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Residents Raise Alarm Over Cigarette Sales to Students
Seawoods residents seek strict action against tobacco sales near educational institutions and public spaces.
The Cigarette Sales
Residents of Sector 25, Seawoods, Nerul, have raised concerns over students allegedly smoking in public places and the suspected sale of cigarettes to minors.
Following repeated complaints, the ward officer and local police conducted a raid at a paan shop on the ground floor of Ambika Heights on the night of September 11. Officials reportedly found cigarette cartons at the shop, but no other illegal intoxicating substances.
Residents said students, reportedly aged between 17 and 22, are frequently seen smoking near Seawoods railway station, the bridge and other public areas. They suspect that a local paan shop may be supplying cigarettes to college students. Prakash Yawalkar, president of the Seawoods Citizens Welfare Association, said students were openly smoking outside the shop, raising concerns among residents and parents.
The association has submitted complaints to the local police, Navi Mumbai Municipal Corporation, mayor, local representatives and the Drug Department. It has urged authorities to strictly enforce the law prohibiting tobacco sales to minors and increase monitoring around schools, colleges and other student gathering points.
Residents said stronger action is needed to prevent tobacco use among young people and ensure that public spaces remain safe and healthy.
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