Twitter adopts 'poison pill' to block Elon Musk takeover bid

Posted on AllSides April 15th, 2022
From The Left
John Raoux/AP

Twitter is trying to stifle Elon Musk.

On Friday, the social media company unrolled a defense against Musk's unwelcome takeover bid, introducing what is known as a poison pill to fend off Musk's $43 billion acquisition attempt.

The maneuver, formally called a shareholder rights plan, essentially allows current shareholders to acquire more stock in the company at a discount, presenting Musk with a unwelcome "pill," meaning his shares would become diluted and his purchase would become more expensive. It would require that Musk negotiate directly with Twitter's board on any...

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