Responding to Musk’s bid, Twitter’s board adopted a limited duration shareholder rights plan called a ‘poison pill’ that makes it difficult for Musk to increase his stake beyond 15%. — Reuters
Social media giant Twitter has introduced a plan to limit billionaire entrepreneur Elon Musk's potential stake in the company after he made a US$43bil (RM183.02bil) non-binding bid to buy the whole company.
Responding to Musk’s bid, Twitter’s board adopted a limited duration shareholder rights plan called a “poison pill” that makes it difficult for Musk to increase his stake beyond 15%.
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