This is evidence that Twitter's board is going to reject the offer put forward by Elon Musk.

I'm reading from their official statement that they just put out, Buck. Basically, what it does, "under the rights plan," they are putting in place "if anybody or a group acquires ownership of 15% or more of Twitter's stock in a transaction not approved by the board," remember, right now Elon Musk has 9.2% of the company, then in the event that happens, they will trigger a new what's called "poison pill" that will basically make it totally impossible to acquire the company.

So effectively what they are doing — what the board has said is — we are not going to allow Elon Musk to purchase this company, we're not going to consent to it, and we're not going to allow him to go to shareholders, either. By the way, this plan would extend all the way until April 14, 2023. So it is a one-year plan that they are implementing. Now, this is going to potentially open them up to shareholder lawsuits.

I would imagine that. The stock market is closed today for Good Friday, but come Monday, there will be a substantial reaction. Now, there's still several days; things can happen. At a minimum, this is designed to provide them more time to try to find a different buyer. But, Buck, what we talked about — and I think this is significant for everybody out there listening — Elon Musk has offered a premium about 20% more than what the stock price is currently worth.