Twitter adopts ‘poison pill’ to fight Musk takeover

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Reuters UK

(Reuters) -Twitter Inc on Friday adopted a limited-duration shareholder rights plan to protect itself from billionaire entrepreneur Elon Musk’s $43 billion cash takeover offer. Musk made the bid on Wednesday in a letter to the board of Twitter- the micro-blogging platform that has become a global means of communication for individuals and world leaders – and it was made public in a regulatory filing on Thursday. After his TED talk on Thursday, Musk hinted at the possibility of a hostile bid in which he would bypass Twitter’s board and put the offer directly to its shareholders, tweeting: “It w…

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