Twitter adopts 'poison pill' measure that could thwart Elon Musk's takeover bid
CNN
Twitter's board of directors has adopted a limited-term shareholder rights plan called a "poison pill" that could make it harder for Elon Musk to acquire the company.
The "poison pill" provision, announced in a press release Friday, preserves the right for Twitter shareholders other than Musk to acquire more shares of the company at a relatively inexpensive price, effectively diluting Musk's stake. The provision will be triggered if Musk (or any other investor) acquires more than 15% of the company's shares. Musk currently owns around 9% of Twitter's shares.
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