Twitter’s board on Friday enacted a defensive measure meant to deter Elon Musk’s $43 billion hostile takeover bid.

Why it matters: The “poison pill,” as it’s called in corporate terms, gives Twitter’s existing shareholders time to purchase additional shares at a discount, thus diluting Musk’s ownership stake…

What they’re saying: Twitter said in a statement that “its Board of Directors has unanimously adopted a limited duration shareholder rights plan. … The Board adopted the Rights Plan following an unsolicited, non-binding proposal to acquire Twitter.”