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Twitter
inventory was rising Monday after Elon Musk took goal on the board of the social media big, saying its “financial pursuits are merely not aligned with shareholders.”
In a tweet over the weekend, the CEO of
Tesla
(ticker: TSLA) identified the Twitter (TWTR) board holds only a few shares of the corporate and “objectively, their financial pursuits are merely not aligned with shareholders.”
Musk’s feedback had been in a response to a tweet itemizing names of those that serve on Twitter’s board, and got here after the corporate took steps to push back his $43 billion takeover try.
Twitter on Friday adopted a so-called poison capsule by unanimously approving a restricted period shareholder rights plan. The plan reduces the chance of Musk or any entity gaining management of Twitter with out offering the board ample time to make knowledgeable judgments.
Musk had disclosed his $43 billion supply on Thursday, solely weeks after he disclosed a 9.2% stake within the social media platform, making him the largest shareholder on the time. Musk rejected an invite to affix the corporate’s board.
Twitter inventory rose by virtually 4% to $46.56 in premarket buying and selling Monday.
Write to Karishma Vanjani at karishma.vanjani@dowjones.com
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