(ConservativeInsider.org) – Earlier this month, tech billionaire Elon Musk offered to buy Twitter for over $40 billion. However, Twitter implemented a Limited Duration Stockholders Rights plan, or a “poison pill” for short, in an attempt to stop Musk from buying the entire company. Now, Florida Governor Ron DeSantis (R) is debating using his state’s stakeholder power in the major tech company to put pressure on Twitter.
On Tuesday, April 19, DeSantis held a press conference to celebrate his signing of an education accountability bill. At the end of this speech, however, he began discussing the proposed deal between Musk and Twitter. He highlighted that the state’s pension system owns Twitter stock that has “been pretty stagnant for many, many years.” With this, he’s reportedly going to look into options the state can use to hold “these Twitter board of directors accountable for breaching their fiduciary duties.”
The Recount shared a video of DeSantis’ comments:
Gov. Ron DeSantis (R-FL) threatens Twitter after it activated “poison pill” plan to prevent Elon Musk’s acquisition:
“We’re gonna be looking at ways the state of Florida potentially can be holding these Twitter board of directors accountable for breaching their fiduciary duty.” pic.twitter.com/55OFO90AjJ
— The Recount (@therecount) April 19, 2022
DeSantis also criticized Twitter for its continual censorship of the New York Post and satire site The Babylon Bee. All in all, DeSantis is quite motivated to use his state’s leverage to expose Twitter’s board of directors’ poor fiscal decision when it comes to the deal with Musk. This could get interesting.
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