Elon Musk considers bringing partners in to buy Twitter, a report says, as the social media giant adopted a “poison pill” defence in an attempt to block the takeover
The new partners could be announced within days, it said.
“Having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization," he said during an onstage interview at a TED event Thursday, just hours after his bid was announced., as its co-CEO Egon Durban is a Twitter board member who led Musk’s deal team during the 2018 failed effort to take Tesla private.
Only Vanguard Group controls more Twitter shares. A lawsuit filed Tuesday in New York federal court alleged that Musk illegally delayed disclosing his stake in the social media company so he could buy more shares at lower prices. Musk could try to fight the measure in court, but “no court has overturned a poison pill in the last 30 years," said Columbia University law professor John Coffee. Rallying shareholders to kick out the board might be more doable but also presents challenges to Musk, Coffee said.A Saudi prince who is among Twitter’s major shareholders scoffed at Musk’s offer in a Thursday tweet.
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