Twitter Opts for ‘Poison Pill’ to Repel Elon Musk Takeover
Twitter’s board of directors on Friday voted unanimously to use a tactic called a “poison pill” to fend off Elon Musk’s attempt to take over the company. In such a defensive tactic, all Twitter shareholders except Musk could buy more shares at a discount. This would dilute the world’s richest person’s stake in the company and prevent him from recruiting a majority of shareholders supporting his move. If Musk’s ownership in Twitter grows to 15% or more, the poison pill would go into effect. Musk, who earlier this week was …