Twitter Inc. could offer its shareholders stocks at a discounted price, a tactic known as the "poison pill," to prevent Tesla Inc. CEO Elon Musk's attempt to take over the ownership of the social media giant, The Wall Street Journal reported on Thursday, citing a source familiar with the matter.
Musk has received a nod from "outside investors" that are ready to provide "equity for the $43 billion bid," the report read.
A separate report by The Information brought similar claims, adding that Twitter's "board of directors views Elon Musk's takeover offer as unwelcome." The "poison-pill" tactic was proposed by Twitter CEO Parag Agrawal, the outlet added.
