Twitter limits Musk’s potential stake to 15% with ‘poison pill’

Responding to Musk’s bid, Twitter’s board adopted a limited duration shareholder rights plan called a ‘poison pill’ that makes it difficult for Musk to increase his stake beyond 15%. — Reuters

Social media giant Twitter has introduced a plan to limit billionaire entrepreneur Elon Musk's potential stake in the company after he made a US$43bil (RM183.02bil) non-binding bid to buy the whole company.

Responding to Musk’s bid, Twitter’s board adopted a limited duration shareholder rights plan called a “poison pill” that makes it difficult for Musk to increase his stake beyond 15%.