Elon Musk on Saturday posted a cryptic tweet that stated “Love Me Tender,” suggesting he was both listening to Elvis or presumably contemplating a possible tender supply to Twitter shareholders to take management of the corporate.
A young supply can be the most recent within the saga over his dramatic bid to take management of Twitter. One other tweet means that Musk believes shareholders ought to resolve the way forward for the corporate, not the board.
Shares of Twitter had been up greater than 3% in premarket buying and selling.
“Wow, with Jack departing, the Twitter board collectively owns virtually no shares!” he additionally tweeted Saturday, referring to former CEO Jack Dorsey, who will step down from the Twitter board this 12 months. “Objectively, their financial pursuits are merely not aligned with shareholders!”
The Tesla and SpaceX CEO final week supplied to purchase Twitter for $54.20 a share, which might worth it at about $43 billion. On Friday, Twitter adopted a restricted length shareholder rights plan, sometimes called a “poison tablet,” in an effort to fend off a possible hostile takeover.
Musk in latest weeks has amassed a greater than 9% stake within the firm. Twitter then prolonged a suggestion to Musk to affix the board, however on the situation that Musk could not purchase greater than 14.9% of the agency. Musk reversed course and as a substitute made a bid to take Twitter non-public.