Twitter’s decision to launch a poison pill defence has given its embattled board a shot at frustrating Elon Musk’s attempt to buy what he has dubbed the world’s “de facto public town square”.
Although the mechanism may not stop the Tesla billionaire’s hostile takeover altogether, it does mean he will probably need to go through the board to do so, depending on which route he chooses.
“It would be very difficult for him to acquire Twitter unless the poison pill is dealt with,” said one corporate advisory lawyer.
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