Florida Gov. Ron DeSantis (R-FL) said at a Tuesday press conference that Florida is looking at potential action against Twitter, Inc. over the recent decision to use a “poison pill” play in an effort to prevent billionaire Elon Musk from taking over. The state’s pension fund, claimed DeSantis, is a Twitter investor.
During a presser at The Villages, DeSantis was asked if he would “commit to completely divesting” the state’s Twitter shares over the company’s positions and policies. “If we did that, we would not have standing to hold the board of directors accountable,” he said. “It gives us standing to do it.”
DeSantis argued that if the board has lapsed in their financial responsibility, Florida as a shareholder has standing to object.
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Florida Governor Ron DeSantis said the state could take action against Twitter for launching a poison pill defense to thwart an unsolicited bid by Elon Musk https://t.co/hPFrOdofWA
— Bloomberg (@business) April 19, 2022
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