Musk tweets ‘Love Me Tender’ days after Twitter takeover offer

Elon Musk’s twitter account is seen on a smartphone in front of the Twitter logo in this photo illustration taken, April 15, 2022. REUTERS / Dado Ruvic / Illustration / File Photo

April 18 (Reuters) – Elon Musk tweeted “Love Me Tender”, an Elvis Presley song, a day after Twitter Inc (TWTR.N) adopted a “poison pill” to protect itself from the billionaire’s $ 43 billion cash offer to buy the social media company.

After Musk’s TED talk on Thursday, he hinted at the possibility of a hostile bid in which he would bypass Twitter’s board and put the offer directly to its shareholders, tweeting: “It would be utterly indefensible not to put this offer to a shareholder vote” . read more

In another tweet over the weekend, Musk, a self-described “free speech absolutist” who has been critical of Twitter and its policies, replied to a post of his from 2017 where he had asked “How much is it (Twitter)?” with an upside down smiley.

Musk, who is also the CEO of electric-vehicle maker Tesla Inc (TSLA.O), has amassed a 9.1% stake in Twitter and is the social media firm’s second-biggest shareholder.

Shares of Twitter rose 2.1% to $ 46.03 in premarket trading on Monday, still significantly below Musk’s offer of $ 54.20 per share. The company’s shares have risen roughly 15% since Musk disclosed his stake on April 4.

Thoma Bravo, a technology-focused private equity firm that had more than $ 103 billion in assets under management as of the end of December, informed Twitter that it was exploring the possibility of putting together a bid, people familiar with the matter told Reuters on Friday .

Reporting by Akriti Sharma and Chavi Mehta in Bengaluru; Editing by Shounak Dasgupta

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