Twitter adopts 'poison pill' rights plan to block Musk's $43 billion takeover bid

Twitter adopts 'poison pill' rights plan to block Musk's $43 billion takeover bid

• By Staff Writer

Twitter is adopting a limited duration shareholder rights plan, often called a 'poison pill', after the world's richest man Elon Musk offered to buy the company for $43 billion. Under this plan, if any person or group acquires at least 15% of Twitter's stock without the board's approval, other shareholders will be allowed to purchase additional shares at a discount.