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Opinion
Matt Levine

Twitter Has a Poison Pill Now

Also crypto hostile takeovers and TAS manipulation.

Here are some things you could do :

These are the things, the classic things. They are “coercive takeover tactics,” in the lingo. They are ways for someone — a “corporate raider,” in the lingo — to take over a company without paying a fair price for it, or without offering every shareholder the same price. Or, I mean, arguably without paying a fair price; you might think that some of these things are fine. (If you can get 51% of the shareholders of a company to sell you their stock in market transactions, what’s the problem?) But boards of directors of public companies generally take a dim view of these things. They think of themselves as fiduciaries for all of the shareholders, and they do not like the idea of someone buying the company out from under them.