<p><strong><em>By Shiyin Chen</em></strong></p>.<p>The economic interests of Twitter Inc.’s board are not aligned with shareholders, Elon Musk said Saturday after the social media company took steps to ward off his takeover attempt.</p>.<p>The billionaire was responding to a tweet about board members’ stock holdings, saying that with the departure of Jack Dorsey, the board “collectively owns almost no shares.”</p>.<p>Twitter on Friday set up a shareholder rights plan that could thwart Musk’s hostile acquisition bid. The plan is exercisable if a party acquires 15% of the stock without prior approval and seeks to ensure that anyone taking control of Twitter through open market accumulation pays all shareholders an appropriate control premium.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/twitterati-tell-elon-musk-to-buy-sri-lanka-instead-of-platform-1101245.html" target="_blank">Twitterati tell Elon Musk to buy Sri Lanka instead of platform</a></strong></p>.<p>Responding to a subsequent tweet by a user about whether the so-called poison pill plan could amount to “criminal negligence,” Musk said the plan could be “more of a concern about other potential bidders” instead of “just” him.</p>.<p>Since making the offer, Musk has been actively posting on his Twitter account in what appears to be a social media campaign to sway public opinion in favor of his bid.</p>.<p>The Tesla co-founder on Thursday tweeted that the board risks liability if it acted against shareholders. He has also thanked followers who voted in online polls supporting his bid.</p>.<p>In response to tweets about board members who could make or break a firm, Dorsey said “it’s consistently been the dysfunction of the company.”</p>.<p><strong>Watch latest videos by DH here:</strong></p>
<p><strong><em>By Shiyin Chen</em></strong></p>.<p>The economic interests of Twitter Inc.’s board are not aligned with shareholders, Elon Musk said Saturday after the social media company took steps to ward off his takeover attempt.</p>.<p>The billionaire was responding to a tweet about board members’ stock holdings, saying that with the departure of Jack Dorsey, the board “collectively owns almost no shares.”</p>.<p>Twitter on Friday set up a shareholder rights plan that could thwart Musk’s hostile acquisition bid. The plan is exercisable if a party acquires 15% of the stock without prior approval and seeks to ensure that anyone taking control of Twitter through open market accumulation pays all shareholders an appropriate control premium.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/twitterati-tell-elon-musk-to-buy-sri-lanka-instead-of-platform-1101245.html" target="_blank">Twitterati tell Elon Musk to buy Sri Lanka instead of platform</a></strong></p>.<p>Responding to a subsequent tweet by a user about whether the so-called poison pill plan could amount to “criminal negligence,” Musk said the plan could be “more of a concern about other potential bidders” instead of “just” him.</p>.<p>Since making the offer, Musk has been actively posting on his Twitter account in what appears to be a social media campaign to sway public opinion in favor of his bid.</p>.<p>The Tesla co-founder on Thursday tweeted that the board risks liability if it acted against shareholders. He has also thanked followers who voted in online polls supporting his bid.</p>.<p>In response to tweets about board members who could make or break a firm, Dorsey said “it’s consistently been the dysfunction of the company.”</p>.<p><strong>Watch latest videos by DH here:</strong></p>