Twitter adopts limited-term shareholder rights

Twitter’s board of directors has recently adopted a limited-term shareholder rights plan to prevent anyone from having more than 15% stake in company, the plan is also called a ‘poison pill’.

This will make it harder for Elon Musk to acquire the social media company.

Currently, Elon Musk has around 9% of Twitter’s shares and he has offered to acquire all the shares in Twitter he does not own for 54.20 dollar per share, valuing the company at 41.4 billion dollar.