Barely a week after Elon Musk offered Twitter $43 billion to buy the company and take it private, the board has responded with its own move: a poison pill. The tactic, which was created in the 1980s to thwart hostile takeovers, would see Twitter dilute Musk's shares if he reached a 15% ownership threshold. He currently owns slightly more than 9% of the company.
💊 Twitter Takes Its Poison Pill
💊 Twitter Takes Its Poison Pill
💊 Twitter Takes Its Poison Pill
Barely a week after Elon Musk offered Twitter $43 billion to buy the company and take it private, the board has responded with its own move: a poison pill. The tactic, which was created in the 1980s to thwart hostile takeovers, would see Twitter dilute Musk's shares if he reached a 15% ownership threshold. He currently owns slightly more than 9% of the company.