Elon Musk’s offer to purchase 100 percent of Twitter in order to establish a true free-speech platform has just been announced. In an attempt to create a real free-speech platform, Musk proposed buying Twitter entirely for $54.20 per share, a 54% premium above the shares’ real value. The board of directors at Twitter, which has implemented several left-wing bias censorship measures as CEO, has fought back by proposing a “poison pill,” which is used to reduce stock ownership in order to weaken the position currently held.
According to yet-to-be-confirmed reports, Musk is set to make a counterattack by teaming up with other investors. However, Musk already has investors on his side. The state of Florida holds a stake in the firm through its pension fund, and DeSantis is investigating what measures he can take to stop the Twitter board’s “poison pill” plan.
DeSantis said a legal team is examining how the state may hold Twitter’s board “accountable for breaching their fiduciary duty” during a news conference on Tuesday, according to WJXT.
It’s worth noting that Musk has previously employed this exact language on Twitter, implying that the board may soon face legal consequences for “breaching their fiduciary duty” to Twitter shareholders.
Although Musk didn’t mention it at the time, DeSantis would be leading that charge.
“To be able to send out a press release or something isn’t what I’m interested in. I mean, we really want to feel like we have a firm basis on which to win before doing so many things.” — DeSantis said
“But I can tell you, based on what I’ve seen, that most of the time when people I talk to are on the board in that scenario, they would urge me to sell. It’s a significant return for your shareholders. Most individuals and their investment vehicles don’t achieve 20% returns per year.”
According to DeSantis, Twitter rejected the offer because of a difference in political viewpoint.
Is it possible that Twitter rejected Elon Musk’s idea because he is a crazed leftist seeking to stifle more conservative stories? Obviously not.
“They know he will not accept the narrative, and that their little Twitter plaything would not be utilized to enforce orthodoxy or to help prop up the regime and these failing legacy media companies. That’s why they did it. It wasn’t because it was a bad business opportunity,” DeSantis added.