Twitter adopts ‘poison pill’ plan to shield itself from Elon Musk takeover

The social media company adopted a shareholder rights plan to protect itself from the billionaire's bid

Twitter has announced a limited-duration shareholder rights plan that may thwart billionaire entrepreneur Elon Musk's attempts to take over the company.

Musk, the chief executive of Tesla and the world's richest person, had offered to buy the social media platform for $43.4bn, arguing he wanted to release its extraordinary potential" to support free speech and democracy across the world.