Twitter adopts poison pill to prevent Elon Musk takeover

Twitter adopted a so-called poison pill Friday that would help prevent it from undergoing a hostile acquisition after Elon Musk put in an offer to buy the social media company for $43 billion.

The board unanimously adopted the limited duration shareholder rights plan. Under the plan, if any person or group acquires 15 percent or more of Twitter’s stock without the board’s approval, other shareholders are allowed to purchase additional shares at a discount.