Elon Musk Plans to Bring Wealthy Partners for Twitter Acquisition

Tesla's CEO is talking to investors who can work with him to buy a microblogging platform, as Twitter has adopted a "poison pill" strategy to prevent Elon Musk from forcing purchases. 

"A new plan with a partner may be announced within a few days," according to a report citing the source. This could be "Plan B" of Musk as he mentioned this week on acquiring Twitter for nearly $43 billion.

"I was able to join Silver Lake Partners, a private equity firm that was planning to invest with him in 2018 when he was considering taking Tesla private," Musk said late Friday.

Twitter's board unanimously approved a limited-time shareholder rights plan following a one-sided, non-binding offer to buy Twitter from Musk.

Rights plans or "poison pill" strategies are used by businesses to discourage or prevent potential hostile takeovers. This gives existing shareholders the right to purchase additional shares at a discounted price, effectively diluting ownership of the new hostile party.

Asset management company Vanguard Group announced last week that its fund is the largest shareholder with a 10.3% stake in Twitter. Musk also launched a new poll of about 82 million followers on Twitter, saying that "keeping Twitter private for $54.20 should be a matter for shareholders, not the board."