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Elon Musk Tweets Cryptic ‘Tender’ Message to Twitter Stockholders




Billionaire Elon Musk recently launched a to take over Twitter. Over the weekend, he posted a cryptic tweet that caused speculation about the post’s meaning. The theory is that he left a message for the social media’s stockholders “with the word ‘tender,’ a likely wink-and-nod reference to a potential tender offer,” according to Los Angeles Times.

Last week he filed a $43 billion proposal for Twitter at $54.20 a share. His offer was not solicited, it appears the entrepreneur’s tactic is a 1980s-style hostile overtake bid. Twitter’s board moved to block him.


Courtesy of Gerd Altmann (Pixabay CC0)

If Musk’s new strategy is a tender offer, it is a direct appeal to investors. Assuming he can persuade them to sell their shares, then he “will amass a controlling stake in the company,” explains The Washington Post. In the event that he is unable to buy enough shares, the billionaire might pursue a proxy fight.

The Twitter board started to deliberate the offer. This will likely include hiring outside advisors — financial and legal — and creating a special committee of board members.

Musk contends Twitter should allow a vote of the company’s shareholders. He tweeted that they are the social media company’s owners, not the board of directors. However, the board does have the authority to carry out critical decisions because that is the reason they were hired by the stockholders.

Written by Cathy Milne-Ware


Los Angeles Times: Elon Musk hints at tender offer to Twitter shareholders; by Michael Tobin
The Washington Post: Elon Musk has launched a raid on Twitter. Here’s what that means. By Jacob Bogage, Douglas MacMillan, and Taylor Telford
RS News: How Elon Musk keeps investors on their toes, Twitter hints at potential tender offer to shareholders

Featured and Top Image Courtesy of NVIDIA Corporation’s Flickr Page – Creative Commons License
Inset Image Courtesy of Gerd Altmann’s Pixabay Page – Creative Commons License

Cathy Milne-Ware is a seasoned writer and editor. Her background: Journalism for online and print newspapers, new website content from the about page to blog posts, newsletters, book reviews, and social media content. She enjoys writing Health, Entertainment, and Political news stories.

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