The world’s richest man, Elon Musk, is facing a new obstacle in his bid to buy Twitter. On Friday, Twitter’s board of directors adopted what’s known as a “poison pill” to thwart Musk’s $43 billion hostile takeover. The move could allow existing Twitter shareholders to buy additional shares at a discounted price. This would dilute Musk’s stake in Twitter and make it more expensive for him to buy the company.
Twitter’s Board Adopts “Poison Pill” to Thwart Elon Musk Hostile Takeover Bid
HeadlineApr 18, 2022