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Twitter initiates 'poison pill' to block Elon Musk's takeover bid
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Twitter initiates 'poison pill' to block Elon Musk's takeover bid
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18th April 2022, 04:45
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| [M] Reviewer  Join Date: May 2010 Location: Romania
Posts: 149,058
 |  Twitter initiates 'poison pill' to block Elon Musk's takeover bid The Twitter board isn't willing to let Elon Musk buy the company without a fight. The board members unanimously approved a limited duration shareholder rights plan, which will be in place for one year starting today. The rights will come into play if a single entity acquires at least 15 percent of Twitter's outstanding common stock without the board's approval. Should that become the case, certain shareholders will have the right to buy more stock. Flooding the market with new shares to dilute other investors' holdings is called a poison pill strategy, and it's designed to ward off a hostile takeover attempt. https://www.engadget.com/twitter-boa...6.html?src=rss |
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