Twitter adopts 'poison pill' to fight Elon Musk takeover
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Twitter's board of directors confirmed that the 'poison pill' protection will be activated to prevent Tesla CEO Elon Musk from taking over the company. Following a "unsolicited, non-binding bid to purchase Twitter," the company's Board of Directors unanimously authorised a limited-term "shareholder rights plan," or the "Rights Plan." If Musk tries to take over the company, the Rights Plan will allow some owners to buy more shares.