Thursday 14th of April 2022 10:56:55 AM
Twitter is said to weigh poison pill to prevent Musk from raising stake; Twitter board expected to reject offer
Justin Sullivan/Getty Images News
- Twitter (NYSE:TWTR) is said to consider using a poison pill to prevent Tesla's (TSLA) Elon Musk from significantly increasing his stake, according a WSJ report. Twitter shares have gone negative, down 0.4%.
- Separately, Twitter's board of directors is said to view Musk's bid as unwelcome, suggesting that it may oppose the $54.20/share offer, according to a report from The Information.
- Musk is said to have heard from outside investors interested in providing equity for his $43 billion bid for Twitter, according to the DJ report.
- Musk said at a TED conference on Thursday, where he's currently speaking, that he has "sufficient" assets to buy Twitter (TWTR) and he can "technically" buy the social media platform.
- Musk added that he has an alternative plan if his bid is rejected by Twitter (TWTR), though he declined to elaborate.
- Developing story ...