Twitter Goes on the Offensive With a ‘Poison Pill’ to Thwart Elon Musk
Thrust into chaos by Elon Musk, Twitter adopted a so-called “poison pill” on Friday to inhibit the world’s richest man—or any party—from taking over the company.
The rights plan, as a company press release called it, “will reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium” or giving the board adequate time to consider the proposal.
The company said it could still a consider a takeover bid it believed was “in the best interests of Twitter and its shareholders.”
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