The ongoing war between Elon Musk and Twitter’s management shows no sign of slowing down…
Previously, we reported that a Saudi Prince was among the most vocal investors opposed to Musk buying out the platform by rejecting his offer.
It seems as if censorship is the primary motivation behind resisting Musk’s takeover, due to the fact that, shares surged in price when Musk first announced he was buying up a massive stake in the ailing company.
Twitter may be ground zero for political social media, but the company has always struggled financially…Why would any shareholder fight against the increased value of their own shares?
Why would any competent board of directors try to literally poison pill an ailing company from realizing greater profits or increasing capital gains for its shareholders?
DeSantis is essentially asking this same question in a different way through his recent announcement:
WATCH: Gov. DeSantis wants to hold Twitter's board and directors accountable for potentially injuring Florida's pension fund.
— Election Wizard 🇺🇸 (@ElectionWiz) April 19, 2022
BREAKING NOW: | Florida Gov. Ron Desantis Vows to TARGET and hold Twitter board accountable for BREACHING fiduciary duty and costing Florida Pension fund holders significant returns on their investment.
Follow @ElAmerican_ for more breaking updates.
— El American (@ElAmerican_) April 19, 2022
The Epoch Times reports:
DeSantis said that Twitter’s rejection of Musk’s apparently financially lucrative offer was not based on business considerations but politics.
Some analysts said that the Twitter board’s rejection of an offer to buy the company at a significant market premium was against the best interest of shareholders.
DeSantis & Musk have become partners in the Twitter takeover. DeSantis announced he’s looking into actions he can take against Twitter's board of directors for attempts to block Musk from buying Twitter, as Florida is an investor in the platform, through the state's pension fund. pic.twitter.com/LIUwo2IZs7
— CJ4America (@CJ4America) April 19, 2022
Gov. DeSantis just said he will “hold Twitter’s board of directors accountable for breaching their fiduciary duties.”
Why doesn’t every Republican governor stand up to Big Tech like this?
— Paul A. Szypula (@Bubblebathgirl) April 19, 2022
The New York Post featured DeSantis’ feelings on the issue:
“They rejected it because they know they can’t control Elon Musk, they know that he will not accept the narrative, and that their little play toy of Twitter would not be used to enforce orthodoxy and to basically prop up the regime and these failed legacy media outlets,” DeSantis said.