The Twitter board is reportedly not interested in Elon’s takeover offer
Twitter’s board could be in for a fight with the company’s single largest shareholder. According to a report from The Information, it views Elon Musk’s offer to take over the company as unwelcome. This follows Musk’s offer to purchase the company for $43 billion earlier today. The company hasn’t publicly indicated how it’s planning on responding to Musk’s offer, but it’s reportedly planning to address it at an all-hands meeting at 5PM ET / 2PM PT today.
Twitter’s board is also reportedly considering using a “poison pill” strategy to make it more difficult for Elon to acquire a large stake in the company and avoid a hostile takeover. Poison pills can, as one example, flood the market with shares once an investor acquires stock above a...