Liberal Twitter Board Moves to Block Elon Musk Takeover With ‘Poison Pill’

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.

From the beginning Musk taking over Twitter sounded too good to be true.

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s