Technology
Apr. 18, 2022
Twitter inserts ‘poison pill’ to try to thwart Musk’s takeover bid
Twitter said its plan is similar to actions taken by publicly held companies in similar situations.
Twitter Inc. announced Friday its board of directors unanimously approved the decision to implement a shareholder rights plan, otherwise known as a “poison pill,” in response to Elon Musk’s “best and final” bid to buyout Twitter at $54.20 a share for $43.4 billion and take it private. The plan, which will be in place until April 14 and triggers if a shareholder acquires 15% or more of the company stock without board approval, allows existing shareholders to buy stock...
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