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HomeTechTwitter board moves to defend against Elon Musk buyout bid

Twitter board moves to defend against Elon Musk buyout bid


Washington: Twitter moved Friday to defend itself against Elon Musk‘s $43 billion hostile takeover bid, announcing a plan that would allow shareholders to purchase additional stock.

“The Rights Plan will reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium,” Twitter said in a statement.

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