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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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Around Digha Railway Station, Negligence Causes Massive Water Wastage

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Ignorance leads to huge water wastage near Digha Railway station.

The Wastage

In another case of carelessness, on Wednesday, March 27, a large water pipeline next to the Digha train station was damaged, wasting litres of water. In addition to upsetting locals, this event has drawn criticism for the Navi Mumbai Municipal Corporation’s (NMMC) poor response.

After this occurrence, the NMMC, which was given the task of supervising the construction of citizen amenities, has come under investigation. While there are development projects going on in a number of places, a serious mistake happened close to the Digha railway station on the Thane Belapur route.

A large-water pipe that supplied Digha with water was accidently damaged by a JCB when the M/s Light Strong Company was working on excavation. The large-water pipe burst, resulting in the loss of lakhs of litres of water.

Municipal authorities were notified promptly, yet they did not move decisively against the contractor in question. Locals voiced their displeasure, drawing attention to a persistent problem where contractors appear to start work without proper supervision or responsibility.

“Irrational contractors begin work at their convenience with the tacit approval of Navi Mumbai Municipal Corporation officials,” said one resident. Millions of gallons of water were wasted when a water conduit ruptured close to the Digha railway station while the business was excavating. But neither the contractor nor the executives of the municipal corporation can bear all the blame.

“It is unacceptable to waste water. Additionally, such carelessness should not be tolerated now that summer has arrived. Another neighbor stated, “We hope NMMC takes action against such contractors.”

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The Shiv Foundation Hosts An Exhibition In Vashi Of Weapons Belonging To Chhatrapati Shivaji Maharaj

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On the occasion of our esteemed leader Chhatrapati Shivaji Maharaj birth anniversary, the Shiv Foundation of Shiv Sena (UBT) has arranged an exhibition including Shivaji Maharaj’s weaponry at Chhatrapati Shivaji Maharaj Chowk, Vashi, from March 27 to 28, 2024, from 6 am to 8 pm.

The display provides an overview of the weapons and combat strategies used throughout Shivaji Maharaj’s rule. In order to obtain insight into the struggles and conflicts of the medieval age, visitors can peruse a variety of displays that explain the historical value of these artifacts.

Shree Vitthal More, the District Chief of Shiv Sena (UBT), opened the exhibition, which attracted the interest of both public officials and ordinary people.

There will be a number of cultural activities and celebrations all day long to go along with the exhibition. Residents can take part in flower tributes, ceremonial greetings, and cultural performances honoring Chhatrapati Shivaji Maharaj’s ongoing legacy from morning to evening.

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Prices Of Lemons Rise As Heatwave Hits City

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As Summer & heatwaves strikes, the prices of lemon rise.

The Rise

Since the region has been immersed in intense heat and rising temperatures, lemons have become an extremely popular item in the city. Lemons are becoming an expensive luxury for many people as a result of their record-high costs, which are causing concern among the general public.

The retail market claims that the price of a single lemon has increased dramatically to Rs. 10 per piece, which is a substantial rise over prior months. Some people are so shocked by this increase that they are restricting how much lemon they eat.

Costs have increased overall as a result of the equivalent rise in lemon prices in wholesale marketplaces. The low salaries that define the present economic landscape put more burden on households that are already struggling financially.

The problem has been made worse by the increase in demand for lemons, which is ascribed to their cooling powers during the intense heat. Lemons are also essential for a number of culinary procedures, including the manufacture of lemon juice and the extraction of sugarcane juice.

According to a lemon merchant Varsha Sadanand Devkar. “Over the past 50 years, we have been selling lemons. But since the start of April, the cost has increased. We now sell three lemons for Rs. 25 and six for Rs. 50, while a single lemon costs Rs. 10 a piece.”

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