The Twitter board unveils a plan to defeat Elon Musk, preparing a toxic pill

 POINTS

~ Twitter has officially responded to Elon Musk's billionaire request.

~ The Twitter board of directors has released a new "shareholder rights program" to  block Musk's offer.

~ Musk has pledged to buy 100 percent from the company.

 

Twitter has officially responded to Elon Musk's request to buy 100 percent from the company. In a recent post from the company, Twitter's board of directors released a new "shareholder rights program" to block Musk's offer. This comes as a major setback for billions of attempts to take full advantage of Twitter.

 The board of directors noted in an official press statement that they had "accepted the Bill of Rights following an unsolicited, non-binding proposal to acquire Twitter". In the financial world, this move is known as a poison pill. In simple terms, a poison pill means preventing malicious takeover by giving certain shareholders the right to buy more stock if someone tries to hold control.

 "The Bill of Rights is intended to enable all shareholders to view the full value of their investment on Twitter. enough time to make informed decisions and take appropriate action against shareholders, ”said an official press release.

 It also noted, "The Bill of Rights does not prevent the Board from engaging with parties or accepting an acquisition proposal if the Board believes that it is in the best interests of Twitter and its shareholders."