Twitter adopts poison pill to prevent Elon Musk takeover ...Middle East

The Hill - Technology
Twitter adopts poison pill to prevent Elon Musk takeover
source : The Hill ( Middle East ) () 29
Twitter adopted a so-called poison pill Friday that would help prevent it from undergoing a hostile acquisition after Elon Musk put in an offer to buy the social media company for $43 billion.  The board unanimously adopted the limited duration shareholder rights plan. Under the plan, if any person or group acquires 15 percent or more of Twitter’s stock without the board’s approval, other shareholders are allowed to purchase additional shares at a discount.  “The Rights Plan 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 without providing the Board s

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