OpenAI rejects Elon Musk’s takeover offer
The ChatGPT maker’s board unanimously turned down the billionaire’s unsolicited $153bn bid.
OpenAI’s board has turned down Elon Musk’s $US97.4 billion ($153bn) offer to buy the company’s assets.
The rejection, which was delivered in a letter to the billionaire’s lawyer, stated that the board decided the bid was “not in the best interests” of the company’s mission.
In addition to the letter, OpenAI’s chairman Bret Taylor said the company is “not for sale, and the board has unanimously rejected Mr Musk’s latest attempt to disrupt his competition.”
On Monday, Musk and a consortium of investors made the unsolicited offer to OpenAI’s board to acquire assets of the non-profit that controlled OpenAI.
In a court filing Wednesday, Musk’s attorneys said he would be willing to drop the suit if the company abandoned its efforts to convert into a for-profit structure.
Dow Jones Newswires
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