This week the Twitter Board of Directors adopted a “poison pill” in an attempt to keep Elon Musk from buying Twitter:

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.

The plan is set to expire on April 14, 2023.

Speaking of Twitter shareholders and the company’s Board of Directors, Musk has taken notice of something:

This is the tweet Musk was responding to:

Things are going to get interesting, that’s for sure. Or, should we say, more interesting.

Stay tuned!

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Related:

‘Not a FINANCIAL decision, it never WAS’: Jeff Carlson lays into Twitter for taking #poisonpill to reject Elon Musk in zero-punches-pulled thread

It’s clear Twitter’s board would ‘rather burn the place to the ground’ than be taken over by Elon Musk

‘Amazing coincidence’! SEC & DOJ reportedly launch ‘joint investigation’ into Elon Musk’s company

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