Twitter’s board has adopted a ‘poison pill’ a day after billionaire Elon Musk made a eye-watering offer to buy the platform
Known as a “limited-duration shareholder rights plan”… twitter is fending off a hostile takeover
The move will prevent anyone from having more than a 15 per cent stake in the company.
It does this by allowing others to buy additional shares at a discount.
This major move comes a day after billionaire Elon Musk offered to buy the company for $43 billion dollars.
The Twitter board says it needed this plan of attack because of the “unsolicited, non-binding proposal to acquire Twitter”.
A poison pill is usually one of those last lines of defence against a company takeover.
