Twitter’s board unanimously voted to adopt a “poison pill” on Friday in an effort to prevent billionaire Elon Musk from taking over the company.
The poison pill is a strategy that can help block companies from being acquired in hostile takeovers. It allows the market to be flooded with new shares should an investor decide to buy up more than a preset percentage of a company’s stock.
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.