Twitter adopts 'poison pill' as challenger to Musk emerges

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

(Reuters) - Twitter Inc adopted a 'poison pill' on Friday to limit Elon Musk's ability to raise his stake in the social media platform, as a buyout firm emerged to challenge his $43 billion bid for the company.

Thoma Bravo, a technology-focused private equity firm that had more than $103 billion in assets under management as of the end of December, has informed Twitter that it is exploring the possibility of putting together a bid, people familiar with the matter said.