Twitter’s board of administrators accredited a poison tablet to forestall a hostile takeover in response to Elon Musk’s provide to purchase the agency. “The corporate on Friday adopted a so-called poison tablet that makes it troublesome for him to extend his stake past 15 p.c,” The Wall Road Journal wrote.
In a press launch, Twitter mentioned its board unanimously “adopted the Rights Plan following an unsolicited, non-binding proposal to accumulate Twitter.”
“The Rights Plan will scale back the probability that any entity, particular person or group beneficial properties management of Twitter via open market accumulation with out paying all shareholders an acceptable management premium or with out offering the Board adequate time to make knowledgeable judgments and take actions which can be in the very best pursuits of shareholders,” the announcement mentioned.
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