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.
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