Twitter initiates 'poison pill' to block Elon Musk's takeover bid
earlier this month, though. This week, Musk made an offer to buy the entire company for around $43 billion.that adopting the rights plan will"reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interests of shareholders.
Twitter says the plan is similar to one carried out by other publicly traded companies that have been subject to a non-binding acquisition proposal. Notably, the rights plan doesn't prevent Twitter from accepting a buyout offer if it believes that's in the best interest of its shareholders.
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