If possible, Florida Governor DeSantis will take action against the Twitter Board in support of free speech advocate Elon Musk’s efforts to buy Twitter. Governor Ron DeSavage said their poison pill to reject a very good offer is an abdication of their fiduciary duty.
“The state of Florida and our pension system we have shares of Twitter. I didn’t buy it, we have people that run the fund, but nevertheless, it hasn’t exactly been great in returns on investment. It’s been pretty stagnant for many, many years. So — but nevertheless, I mean to me, I think that that’s probably an injury to the fund. So we’re going to be looking at ways that the state of Florida potentially can be holding these Twitter Board of Directors accountable for breaching their fiduciary duty. (Applause) So, stay tuned on that.”
During a news conference in The Villages, DeSantis said lawyers are reviewing state actions to hold the Twitter board of directors “accountable for breaching their fiduciary duty.”
He wants to make sure they’re on solid footing before he moves ahead. He then went on to explain that it would have been a massive return on the investment for shareholders.
“But I can tell you just looking at it, most of the time the people I talk to would say if you’re on the board in that situation, you really do need to sell. It’s a massive return for your shareholders. I mean, most people and their investment vehicles are not making 20% in a year.”
He told his supporters to “stay tuned” on action against the Twitter board and said that Mr. Musk was trying to “liberate” the platform from censorship.
“They did a 20 percent premium, and the board of directors effectively rejected that by doing a ‘poison pill’,” he added.
“The question is why would you reject the 20 percent premium? I don’t think that was a rejection based on financial concerns or business judgment.
“They rejected it because they know they can’t control Elon Musk, they know 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.
“That is why they did it, it was not in my judgment because it was not a good business deal and the question now is what is the recourse.”
He’s also looking at repealing Disney’s special status this week, as we reported earlier.