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

Twitter Permanently Suspends President Donald Trump"s Twitter Account 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 ...

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