Twitter Board reveals plan to defeat Elon Musk, prepares for poison pill

Twitter’s board of directors has issued a new “shareholder rights plan” to block Elon Musk’s offer. This comes as a major setback to the billionaire’s efforts to take full control of Twitter.

Twitter has officially responded to billionaire Elon Musk’s offer to buy 100 per cent stake in the company. In the latest update, Twitter’s board of directors has issued a new “shareholder rights plan” to block Musk’s offer. This comes as a major setback to the billionaire’s efforts to take full control of Twitter.

The board of directors noted in an official press release that they have "adopted the Rights Plan following an unsolicited, non-binding proposal to acquire Twitter".

This is a developing story