Latest News
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.
Latest News
The Tenth Tata Mumbai Marathon Was Completed By NMMC Commissioner
Dr. Kailas Shinde, Commissioner of the Navi Mumbai Municipal Corporation (NMMC), has accomplished a remarkable feat by finishing the Tata Mumbai Marathon for the ninth year in a row.
Thousands of runners from all around the world attended this year’s marathon, which was held on Sunday to commemorate the famous event’s 20th anniversary. Dr. Shinde further demonstrated his dedication to endurance and fitness by finishing the difficult 42.195 km race in an astounding 4 hours, 29 minutes, and 12 seconds.
As evidence of his commitment to regular training and preparation, Dr. Shinde maintained a constant pace of 6 minutes and 23 seconds per kilometer throughout the marathon, which started at 5:00 a.m. at Chhatrapati Shivaji Maharaj Terminus in Mumbai.
This year’s achievement comes after Dr. Shinde’s outstanding performance in the Comrades Marathon, an ultramarathon in South Africa, when he exceeded the time limit by finishing the 86.6 km route in 11 hours, 10 minutes, and 56 seconds. His reputation as a focused and dedicated athlete was further solidified by this accomplishment.
Dr. Shinde has continuously put his training first despite his hectic administrative job and rigorous schedule, demonstrating that amazing outcomes are possible when hard effort, goal-setting, and preparation are balanced. In addition to reflecting his own accomplishments, his love of running provides as motivation for leading a healthy lifestyle.
Latest News
Residents Of Kharghar Express Concern Over The Increasing Number Of Roadside Shops And Encroachments
Residents of Kharghar are raising serious concerns over the growing encroachments and unauthorized shops in Sectors 30 to 40, which are causing inconvenience and safety issues. Locals have shared photographs showing illegal roadside stalls selling clothes, fruits, coconuts, and snacks, taking over footpaths and parking spaces.
One image shows a clothing shop operating from a car boot, while another captures coconut vendors blocking a busy intersection. A third photo highlights a snack stall covered with plastic sheets, further restricting pedestrian movement, especially under the newly constructed metro bridge.
Frustrated residents say these illegal setups are disrupting daily life. “We pay taxes for planned infrastructure, but these encroachments create chaos,” said Radhe Trivedi, a local.
Arvind Pawar, another resident, said multiple complaints to the Panvel Municipal Corporation (PMC) and CIDCO have seen little action. “We need stricter enforcement to remove illegal hawkers and restore order,” he added.
Citizens have taken to social media to highlight the issue, tagging government officials, including the Chief Minister’s Office of Maharashtra and MLA Prashant Thakur, demanding intervention.
Resident Lalita Iyer emphasized the need for long-term solutions to prevent future encroachments and protect Kharghar’s planned urban development.
With growing pressure from residents, authorities are now being urged to take immediate and strict action to remove these unauthorized commercial activities and restore public spaces to their proper use.
Latest News
The Marathi Language Conservation Fortnight Is Being Celebrated By NMMC With A Self-Poetry Recitation Competition
NMMC Hosts Self-Poetry Recitation Competition To Celebrate Marathi Language Conservation Fortnight.
The Competition
The Navi Mumbai Municipal Corporation (NMMC) held a self-poetry reciting competition to support officials’ and staff members’ poetic writing abilities. The occasion was a component of the two-week-long Marathi Language Conservation campaign.
Thirty-one poets took part in this event. From January 14 to January 28, the city government has organized a number of events to promote the Marathi language.
Ashok Gupte, a well-known poet and the grandson of the famed poet Bee, judged the self-poetry reciting competition. Gupte urged the poets to continue their commitment to producing high-caliber poetry. Despite their hectic work schedules, he commended the cops and staff for fostering their literary abilities.
The poet was especially grateful of the female staff members who had worked hard and passionately to develop their literary skills while juggling work and domestic duties. Gupte stressed the significance of delivery and presentation. He emphasized that there should be a natural rhythm and flow even in free verse poetry. According to an official, he encouraged contestants to keep competing, read quality poetry, and keep composing. During the occasion, Gupte also read a few of his own outstanding poetry.
The NMMC headquarters will host a lecture on “Mayboli Abhijat Marathi” by famous poet and writer Dr. Mahesh Keluskar. Navi Mumbai literature lovers are welcome to come and take part in this thought-provoking discussion.
-
India3 years ago
As the arrangement with Prashant Kishor falls through Rahul Gandhi has gone overseas again and is uncontactable
-
Fact Check4 years ago
Nidhi Razdan, fake Harvard professorship, and here is the explanation through her blog.
-
Latest News3 years ago
Tata wins Air India with ₹18,000 crore bid
-
Technology3 years ago
BSNL reveals all new 4G plans starting at ₹16
-
Latest News4 years ago
Government has spent ₹9,725 crores on Covid-19 vaccination drive so far
-
Latest News3 years ago
Jharkhand government cuts Petrol price by massive ₹25 a litre but with a catch
-
Navi Mumbai4 years ago
Navi Mumbai civic body raids and tests morning walkers, many found COVID positive
-
Latest News4 years ago
Raj Kundra Gave ₹25 Lakh Bribe to Mumbai Crime Branch to Avoid Arrest