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Twitter Is Weighing a Poison Pill Defense to Thwart Elon Musk’s Takeover Bid

Bloomberg business news
WATCH: “I am not sure that I will actually be able to acquire it,’ Elon Musk says during a TED event about his proposed takeover of Twitter.Source: Bloomberg

Twitter Inc.’s board is considering adopting a measure that would protect the company from hostile acquisition bids, according to people with knowledge of the matter, following billionaire Elon Musk’s unwelcome offer to take the company private.

One of the options under consideration is adopting a poison pill, known as a shareholder rights plan, said the people, who asked not to be identified discussing private deliberations. Twitter could announce the poison pill as soon as tomorrow. Another scenario under consideration is saying that the offer is too low, according to one person.