https://techcrunch.com/2022/04/15/twitter-adopts-poison-pill-defense-to-block-elon-musk-takeover/

Twitter’s board of directors announced in a press release that the company is adopting a limited duration shareholder rights plan — a “poison pill” in merger and acquisition lingo. While the company doesn’t name Elon Musk directly, Twitter is clearly trying to prevent the billionaire from buying the social network.

Elon Musk currently owns 9.2% of Twitter. Yesterday, he made an offer to acquire 100% of the company’s shares as revealed in a filing with the U.S. Securities and Exchange Commission. Musk has said he is willing to pay $54.20 per share. It would be an all-cash offer that values the social network at $43.4 billion.