Elon Musk posted a cryptic tweet on Saturday that said “Love Me Tender,” suggesting he was either listening to Elvis or possibly considering a possible tender offer to Twitter shareholders to take control of the company. was doing.
A tender offer on his dramatic bid to take control of Twitter would be the latest in the saga. Another tweet shows that Musk believes shareholders should decide the future of the company, not the board.
Twitter shares were up more than 3% in premarket trading.
“Wow, with Jack gone, the Twitter board collectively holds almost no shares!” He tweeted on Saturday, referring to former CEO Jack Dorsey, who will step down from the Twitter board this year. “Fairly speaking, their economic interests do not align with those of shareholders!”
Tesla and SpaceX CEOs last week offered to buy Twitter for $54.20 a share, which would be valued at about $43 billion. On Friday, Twitter adopted a limited-term shareholder rights plan, often referred to as a “poison pill,” in an effort to prevent a potentially hostile takeover.
🎶 Love Me Tender 🎶
— Elon Musk (@elonmusk) April 16, 2022
Musk has amassed more than a 9% stake in the company in recent weeks. Twitter then offered Musk to join the board, but on condition that Musk could buy no more than 14.9% of the firm. Musk reversed course and instead made a bid to take Twitter private