SAN FRANCISCO (AP) — OpenAI says its board of directors has unanimously rejected a $97.4 billion takeover bid by Elon Musk. “OpenAI is not for sale, and the board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition,” said a statement Friday from Bret Taylor, chair of OpenAI’s board.

The board of OpenAI unanimously rejected an unsolicited bid for the company launched by Elon Musk, saying it was a legal tactic not a serious offer.

OpenAI on Friday rejected a $97.4 billion bid from a consortium led by billionaire Elon Musk for the ChatGPT maker, saying the startup is not for sale and that any future bid would be disingenuous. The unsolicited approach is Musk’s latest attempt to block the startup he co-founded with OpenAI CEO Sam Altman—but later left—from becoming a for-profit firm,