Beijing time on April 16 news, Twitter local time announced Friday,All board members vote unanimously to launch the “poison pill” program.
According to the plan, if any individual or organization acquires no less than 15% of Twitter’s outstanding shares, other shareholders will be able toBuy additional shares at a discount. Twitter’s poison pill program expires on April 14, 2023. Twitter said the “poison pill” plan will not affect the board’s acceptance of a takeover that is in the interests of the company and shareholders.
Elon Musk owns 9 percent of Twitter’s stock, according to filings with the U.S. Securities and Exchange Commission disclosed last week.
The Twitter CEO announced that Musk would be on the board, but Musk changed his mind a few days later and decided not to. Musk’s stake cannot exceed 14.9% if he is on Twitter’s board.
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