I believe this is not a hostile takeover. It's an unsolicited bid to purchase the company directly to the board. A hostile takeover would involve a tender or purchases directly to shareholders to purchase stocks ignoring the board or likely against the wishes of the board.
It's an unsolicited offer - so Musk can sell his shares, watch it depress the price, and then attempt the hostile take-over. Big stakeholders are signaling to the board not to accept the terms: https://twitter.com/Alwaleed_Talal/status/151461595698675712...
Yes that's what a hostile take-over is and twitter just adopted a poison pill:
> 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 or without providing the Board sufficient time to make informed judgments and take actions that are in the best interests of shareholders.
