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High Profile Twitter Shareholders Demand Vote On Elon’s Buyout Offer

Twitter shareholders are demanding the opportunity to vote on whether to accept Elon Musk’s offer to buy the company

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Multiple high profile Twitter shareholders have called for the company to offer a vote on Elon Musk‘s offer to buyout the company’s stockholders for $54.25 per share, about $34 billion, and take it private, following the company’s decision to swallow a “poison pill” to prevent a hostile takeover.

Conservative commentator and popular author Kurt Schlichter, Canadian journalist Keean Bexte, radio host Clay Travis, and Texas media publisher Michael Sullivan are among those calling for a company vote.

“As a Twitter shareholder, I demand that the Board pursue shareholder interests and not their own with regard to the @elonmusk offer,” wrote Schlichter on Twitter.

“Each board member has a fiduciary duty to do so.”

Schlichter was not the only shareholder to remind Twitter’s Board of Directors that it has a legal responsibility to act in the best interest of its shareholders.

Travis also noted that he is a “long time @twitter shareholder” and said that Twitter’s poison pill decision violated “their fiduciary duty to maximize shareholders returns”.

He added that if the board’s actions do not lead to a sale “of the company for over $54.20,” then their actions “will lead to monster lawsuits costing the company billions of dollars.”

Sullivan also reminded Twitter of its legal responsibility to make money for the shareholders.

“I demand a vote on @elonmusk’s officer,” Sullivan wrote on Twitter. “The board has a fiduciary responsibility to me and all the other shareholders to maximize our investment.”

Bexte offered a more optimistic message to Twitter’s board.

“A good chunk of my investment portfolio is actually in Twitter,” noted the journalist. “I want to sell it to @elonmusk at the price he offered. Let the shareholders vote.”

Twitter’s “poison pill” defense will stop Musk or any other investor from buying more than 15% of the company. However, analysts note that Musk could circumvent this with proxies, and ultimately vote to fire the board once attaining 51% of the company.

Musk has teased a “Plan B” option that some have speculated could mean the creation of a new social media website or a hostile takeover of Twitter.

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Tom Pappert is the Editor-in-Chief of Valiant News. He has worked in political news and commentary since 2015, when he began supporting Trump on a left wing college campus. You can follow him on Twitter @realTomPappert, on Gab @realGodEmperorTrump, on Facebook at Tom Pappert, or see his other social media by visiting tompappert.com. Tips can be sent securely to [email protected].

1 Comment

1 Comment

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    Moparguy

    April 18, 2022 at 5:42 am

    This isn’t over with yet. Democrats are scared to death of a free speech platform, let it roll.

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