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Twitter Adopts Poison Pill to Block Musk

By
Jessica Toonkel
· · Source: The Information

Twitter’s board adopted a so-called “poison pill” to defend the company from Elon Musk’s attempt to buy the company. Under the poison pill, if Musk lifts his stake above 15% from 9% currently, other shareholders would have the right to buy more stock at a discount, essentially diluting Musk down. The move gives the board more time to prepare its defenses, which could include canvassing for...

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