WASHINGTON: Twitter moved Friday to defend itself against Elon Musk’s $43 billion hostile takeover bid, announcing a plan that would allow shareholders to purchase additional stock.
Musk’s proposal faces uncertainty on multiple fronts, including possible rejection and the challenge of assembling the cash, but could have wide-reaching impacts on the social media service if consummated.
Twitter’s board has unanimously adopted a so-called shareholder rights plan, also known as a “poison pill,” as the struggle for control of the social media platform…
