Elon Musk tweet hints at conceivable mushy be offering to Twitter shareholders


Elon Musk on Saturday posted a cryptic tweet that mentioned “Love Me Smooth,” suggesting he was once both paying attention to Elvis or perhaps taking into consideration a possible mushy be offering to Twitter shareholders to take regulate of the corporate.

A young be offering will be the newest within the saga over his dramatic bid to take regulate of Twitter. Some other tweet means that Musk believes shareholders must come to a decision the way forward for the corporate, no longer the board.

Stocks of Twitter had been up greater than 3% in premarket buying and selling.

“Wow, with Jack departing, the Twitter board jointly owns nearly no stocks!” he additionally tweeted Saturday, regarding former CEO Jack Dorsey, who will step down from the Twitter board this 12 months. “Objectively, their financial pursuits are merely no longer aligned with shareholders!”

The Tesla and SpaceX CEO remaining week presented to shop for Twitter for $54.20 a percentage, which might price it at about $43 billion. On Friday, Twitter followed a restricted length shareholder rights plan, incessantly known as a “poison tablet,” so that you could fend off a possible adverse takeover.

Musk in fresh weeks has collected a greater than 9% stake within the corporate. Twitter then prolonged an be offering to Musk to enroll in the board, however at the situation that Musk could not purchase greater than 14.9% of the company. Musk reversed direction and as an alternative made a bid to take Twitter personal.

Leave a Reply

Your email address will not be published.