Twitter board adopts ‘poison pill’ after Musk’s $43 billion bid to buy company

Posted on AllSides April 15th, 2022
From The Center
Jakub Porzycki | Nurphoto | Getty Images

Twitter adopted a limited duration shareholder rights plan, often called a “poison pill,” a day after billionaire Elon Musk offered to buy the company for $43 billion, the company announced Friday.

The board voted unanimously to adopt the plan.

Under the new structure, if any person or group acquires beneficial ownership of at least 15% of Twitter’s outstanding common stock without the board’s approval, other shareholders will be allowed to purchase additional shares at a discount.

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https://www.cnbc.com/2022/04/15/twitter-board-adopts-poison-pill-after-musks-43-billion-offer-to-buy-company.html

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