What's happening?!
The same could be said about the preceding couple of weeks and the attempt by Musk to buy the company.
The New York Times and The Information both reported that the board of directors is not in favor of the offer.
It was not possible to comment on the matter.
A person with knowledge of the situation told The Information that Musk's acquisition attempt is not welcome by the board.
Two people with knowledge of the situation told The New York Times that the board is debating using a poison pill to prevent Musk from pushing the company into selling.
The board met on Thursday to consider Musk's bid to acquire the company at a $43 billion valuation.
The shareholder rights plan is a tactic used to avoid hostile takeovers by allowing other shareholders to buy more shares at a discount.
According to the Wall Street Journal, Musk became the biggest shareholder in early April, but the group increased its stake.
Musk said he would consider selling his stake in the company if he were not able to buy it.
On Thursday, the offer was called "unsolicited" and "non-binding", and it would be reviewed.
In a Wednesday letter to the board of directors, Musk said that he invested in the company as he believed that it could be a platform for free speech around the globe.
You should catch up on the Musk-Twitter saga.
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