The Twitter world (and all of social media) exploded with the news that Tesla CEO Elon Musk made an offer to buy the Twitter stock he did not yet own (approximately 93% of the Co.) at a price/stock 20% higher than an individual stock is currently valued.
Mr. Musk, the world's richest individual, explained in a Tweet that since Twitter is a major public town hall, it needs to "rigorously adhere to the principles of free speech." A recent Twitter poll he put out showed that the majority of users do not feel Twitter currently does.
Mr. Musk went on to make clear in his proposal to buy the company that the only way to make Twitter a platform of free speech and "unlock" its true potential was to take the company private.
But the story exploded to a new level when leftist media outlets, liberals on Twitter, a Saudi Arabian prince, and even the board of Twitter itself voiced opposition to the deal.
According to reports, the Twitter board has led the company to adopt a so-called poison pill that would make it harder for Elon Musk to purchase more than 15% of the company.
Essentially, the "poison pill" is a legal maneuver designed to allow other shareholders the option to buy additional shares of a company at a discounted price should a particular shareholder purchase more than a certain amount of shares.
Of course, the mainstream media hasn't taken a much different approach. Watch this clip of an MSNBC panel discussing the prospect of a 'Musk-Owned Twitter.'
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Joseph Hugh, Al K. Scott, Sam Morris
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