Here’s when Twitter’s plan would kick in — and what Elon Musk could still do.
PROVIDENCE, R.I. — Twitter said Friday that its board of directors has unanimously adopted a “poison pill” defense in response to Tesla CEO Elon Musk’s proposal to buy the company and take it private.
What is a poison pill?
The defense is formally called a “limited duration shareholder rights plan,” and it’s often used in the face of hostile takeovers. It would allow existing Twitter shareholders to buy additional shares at a discount, diluting Musk’s stake in the company and making it harder for him to corral a majority of
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