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I'm confused about the series of events here. What happened to the poison pill?

The poison pill only takes effect during a hostile takeover.

Elon asked the board if he could buy Twitter. If the board were to say "no", the poison pill protects Twitter against Elon buying up all the shares in the open market anyway.

The board saying "yes" bypasses all that.

Thank you. I was also confused.

Ohh right, thank you!

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