Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Twitter (TWTR) announced that its board of directors has unanimously adopted a limited duration shareholder rights plan following an unsolicited, non-binding proposal to acquire Twitter. Such rights plans are often referred to as a “poison pill” since they serve as a defense tactic to prevent or discourage hostile takeover attempts. Meanwhile, the company has brought on a second investment bank, JPMorgan (JPM), to help it respond to Elon Musk’s hostile bid, Bloomberg’s Liana Baker and Katie Roof reported, citing people familiar with the matter. The largest U.S. bank started work recently to assist Twitter in talks with potential buyers, the people said. Besides Musk’s offer, Twitter has been fielding takeover interest from other parties, including technology-focused private equity company Thoma Bravo, according to one of the people. 2. Workers at Apple’s (AAPL) flagship retail store in New York City’s Grand Central Terminal have taken steps toward forming a union, Axios’ Rebecca Falconer reported. The Pacific Blue Collar Organizing Committee said in the website update that workers at the Manhattan store voted on Feb. 21 to affiliate with Workers United, a national labor union that has helped Starbucks (SBUX) workers successfully unionize across the U.S. 3. On April 8, AT&T (T) officially spun off Warner Bros. and completed the media group’s subsequent merger with Discovery, Nicholas Jasinski wrote in this week’s edition of Barron’s. Investors now have a pair of inexpensive stocks to consider: The leaner AT&T, focused on competing in the U.S. wireless and home broadband markets, and the streaming-centered entertainment company Warner Bros. Discovery (WBD). The two stocks will appeal to different investor bases, and both could be reinvigorated by their independence, the author contends. At that valuation, the new WDB is a stock worth watching, the publication added. 4. Warner Bros.’ “Fantastic Beasts: The Secrets of Dumbledore” opened to $43M at the domestic box office, winning the Easter weekend but falling short of expectations. Overseas, the third installment in J.K. Rowling’s Harry Potter spinoff franchise earned another $71M for a global cume of $193M. The movie had opened last weekend in select markets. 5. STMicroelectronics (STM) and FedEx (FDX) saw positive mentions in this week’s edition of Barron’s.
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