Musk targets Twitter board as company adopts 'poison pill'

📆 4/24/2022 9:15 AM
📰 Reuters

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WATCH: Elon Musk took a swipe at the board of Twitter as the company adopted a ‘poison pill’ to thwart his $43 billion cash buyout offer

April 18 - Elon Musk took a swipe at the board of Twitter on Monday after the social media company adopted a "poison pill" to protect itself from the second-biggest shareholder's $43 billion cash buyout offer.

Elon Musk's twitter account is seen on a smartphone in front of the Twitter logo in this photo illustration taken, April 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photochief executive also tweeted "Love Me Tender", an Elvis Presley song, after Twitter opted a plan to sell shares at a discount to prevent any attempt by shareholders to amass a stake of more than 15%. Musk currently has a 9.1% stake.

Dorsey's statement was a reply to a tweet by venture capitalist Garry Tan that said: "The wrong partner on your board can literally make a billion dollars in value evaporate."

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