Twitter board announces poison pill to block Elon Musk offer | Twitter stock news

Twitter board announces poison pill measure to block Musk buyout Twitter’s board of directors has issued a new “shareholder rights plan” to block Elon Musk’s proposed buyout offer, a major setback to the billionaire’s efforts to take full financial control of the company. The plan strongly suggests that Twitter’s board intends to fight Musk’s bid to take ownership of the company, as previously reported. Twitter CEO Parag Agrawal had previously told employees that the company was still evaluating Musk’s offer. The board also detailed the plan in a filing to the US Securities and Exchange Commission, although the filing was not available as of press time. The plan will remain in effect for one year.