Musk tweets ‘Love Me Tender’ days after Twitter takeover offer
(Reuters) -Elon Musk tweeted “Love Me Tender”, an Elvis Presley music, a day after Twitter Inc adopted a “poison tablet” to guard itself from the billionaire’s $43 billion money supply to purchase the social media firm.
After Musk’s TED discuss on Thursday, he hinted at the opportunity of a hostile bid through which he would bypass Twitter’s board and put the supply on to its shareholders, tweeting: “It might be totally indefensible to not put this supply to a shareholder vote”.
In one other tweet over the weekend, Musk, a self-described “free speech absolutist” who has been essential of Twitter and its insurance policies, replied to a submit of his from 2017 the place he had requested “How a lot is it (Twitter)?” with an the other way up smiley.
Musk, who can also be the CEO of electric-vehicle maker Tesla Inc, has amassed a 9.1% stake in Twitter and is the social media agency’s second-biggest shareholder.
Shares of Twitter rose 2.1% to $46.03 in premarket buying and selling on Monday, nonetheless considerably under Musk’s supply of $54.20 per share. The corporate’s shares have risen roughly 15% since Musk disclosed his stake on April 4.
Thoma Bravo, a technology-focused personal fairness agency that had greater than $103 billion in property below administration as of the tip of December, knowledgeable Twitter that it was exploring the opportunity of placing collectively a bid, folks acquainted with the matter informed Reuters on Friday.
(Reporting by Akriti Sharma and Chavi Mehta in Bengaluru; Enhancing by Shounak Dasgupta)
