Elon Musk hints at possible tender offer for Twitter (NYSE:TWTR)


Twitter headquarters in downtown San Francisco

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Elon Musk appeared to hint at a achievable tender give for Twitter (NYSE:TWTR) in a tweet on Saturday.

Musk tweeted “Really like Me Tender” in a cryptic tweet on Saturday that is not only a well known Elvis Presley song, but also may reference to a prospective tender supply he could make for the social media platform that he provided to get for $43 billion on Thursday.

The Musk tweet comes soon after Twittter (NYSE:TWTR) on Friday declared it adopted a shareholder legal rights prepare – a “poison tablet” developed to keep command in the company from currently being consolidated in the wake of Musk’s shock energy to just take regulate of the firm. The board unanimously adopted a poison tablet that’s exercisable if any a single entity acquires effective possession of 15% or far more of Twitter common inventory in a transaction unapproved by the board.

While Twitter (TWTR) instructed staff members at all palms assembly on Thursday that it really is analyzing Musk’s $54.20 share offer, according a Verge report, The Information also described that the Twitter board seen Musk’s bid as unwelcome, suggesting it would likely reject it.

It is attainable that Musk may well see a tender provide, where the purchaser goes straight to shareholders requesting that they tender their shares at a certain price, as a potential way about a achievable board rejection or as a way to get close to a poison tablet.

Musk mentioned at a TED meeting on Thursday that he had “adequate” assets to invest in Twitter and he could “technically” obtain the social media system. Musk added that he has an alternative program if his bid is turned down by Twitter (TWTR), although he declined to elaborate.

On Saturday, there had been media reviews that Musk is claimed to be chatting to buyers who would husband or wife with him on an supply for Twitter. A new system involving associates could be announced within days, in accordance to a NYPost report.

Along with Musk, personal-equity agency Thoma Bravo is documented to be using a search at a rival bid for Twitter (TWTR).


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