Twitter Adopts ‘Poison Pill’ to Thwart Elon Musk

“Twitter on Friday threw a roadblock in front of Elon Musk’s hostile takeover bid, adopting a plan known as a ‘poison pill’ that would make it much more expensive and complicated for the Tesla CEO to take control of the social media network,” the Washington Post reports.

“The plan seeks to thwart Musk from growing his stake in Twitter by giving other shareholders the option to buy more shares in the company at a discounted price. It would effectively flood the market with new shares that Musk would have to buy at a higher price to acquire the company, making a takeover potentially prohibitively expensive.”