Twitter Moves to Block Elon Musk From Increasing Stake
Twitter Inc. TWTR -1.68% moved to prevent Elon Musk from significantly increasing his stake the day after he made a $43 billion unsolicited takeover bid for the social-media company.
The company on Friday adopted a so-called poison pill that makes it difficult for him to increase his stake beyond 15%. The billionaire founder of Tesla Inc. TSLA -3.66% already owns a more than 9% stake that he revealed earlier this month.
The Wall Street Journal reported Thursday that Twitter was weighing such a move.