
Following Tesla Inc (NASDAQ:TSLA) CEO Elon Musk's bid to buy Twitter Inc (NASDAQ:TWTR), the social media company adopted a limited duration shareholder rights plan, often referred to as a "poison pill."
What To Know: The rights plan aims to reduce Musk's likelihood of gaining control of Twitter through open market accumulation without paying all shareholders an appropriate premium or without providing the company sufficient time to make a decision.