Twitter adopted a defensive shareholder rights plan on Friday with the intention of thwarting billionaire Elon Musk’s $43 billion takeover bid of the company. This measure, often referred to in corporate legal jargon as a “poison pill,” allows for current Twitter shareholders to purchase additional shares at a discounted price. This move would dilute Musk’s stake in the company and is a commonly utilized way to ward off hostile takeovers.

RELATED: Musk’s Twitter buyout is “peak billionaire,” writes columnist for Washington Amazon-Post