Talos Energy said on Tuesday that it had adopted a so-called poison pill to keep Mexican billionaire Carlos Slim's investment firm from gaining control of the company.

Talos Energy (NYSE:TALO) wobbles between small gains and losses in Tuesday's trading after saying it adopted a shareholder rights plan in response to the continued accumulation of ~24% of common shares by Control Empresarial De Capitales,

Talos Energy Inc. has implemented a so-called poison pill plan in a bid to defend itself against Mexican billionaire Carlos Slim’s repeated share purchases, which have reached 24.2% of the firm.Most Read from BloombergA 7,

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Talos Energy Inc has implemented a so-called poison pill plan in a bid to defend itself against Mexican billionaire Carlos Slim’s repeated share purchases, which have reached 24.1% of the firm.

Though Talos shares have been underperforming for the last two years, Slim’s investment arm, Control Empresarial de Capitales, saw value in the company and “acted decisively over the last year”, acquiring 24% of common stock available in the market, Tim Rezvan, equity research analyst at KeyBanc Capital Markets, wrote in a note for the bank.

Houston-based Talos Energy Inc. (NYSE: TALO) has adopted a poison pill measure to keep the richest man in Mexico from snapping up more shares. Over the past year, Carlos Slim, thr