Elon Musk Appears To Threaten He’ll Go Straight To Shareholders With Takeover Bid…Sends Brutal Warning To Twitter Board Members If His Bid Succeeds

100% Fed Up

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

While Twitter’s board has expressed little interest in Elon Musk’s proposal to buy the company and take it private, adopting a ‘poison pill’ measure to head him off, Musk is allegedly hatching a separate plot where his offer would be sent directly to shareholders.

Musk teased the proposal in a Tweet where he borrowed lyrics from an Elvis song, saying ‘Love Me Tender’.

Musk has sent Twitter into turmoil as its stock has risen and fallen in recent weeks. Twitter’s stock surged after musk bought a 9.2% share of the company, going up 27%. Twitter’s stock fell after Musk offered to buy Twitter for $54.20 a share.

Musk has discussed making Twitter a more free-speech-friendly platform if he acquires the company, along with other proposed changes like an edit button.

Another change that Musk proposed recently was to reduce Twitter board members’ salaries to $0.

 

The Daily Mail Reports

 

 

“Elon Musk has tweeted ‘Love Me Tender’ as he again hinted at the possibility of a hostile takeover of Twitter.

The billionaire posted the Elvis Presley lyrics at the weekend in a potential bid to lure shareholders with a tender offer that could see him seize control.

A tender offer would see him bypass the board and go to shareholders with his offer of $54.20 a share – but he would need to show how he would finance his bid.

He also appeared to suggest he would strip board members of their salaries, saying they would get ‘$0 if my bid succeeds’.

It comes as the social media giant filed its ‘poison pill’ defense with the Securities and Exchange Commission today in a bid to thwart the Tesla founder.

The plan is being seen as a last ditch attempt to prevent Musk from increasing his stake in the company further following his $43billion bid last week.

Meanwhile Jack Dorsey took aim at the firm’s board, slamming it for ‘plots and coups’ that were ‘consistently the dysfunction of the company’.”

You might like:

Stories You May Like