Elon Musk Reportedly Updating Plan to Buyout Twitter

Elon Musk Reportedly Updates Plan to Buyout Twitter

(RepublicanDaily.org) – Elon Musk, the innovator and entrepreneur who’s currently the world’s richest man, has been making headlines in recent weeks over his attempted massive buyout of Twitter shares. He already owns 9.2% of the company and he appears determined to buy more. However, the social media giant’s board of directors is resisting the idea.

Over the past week, Musk added more fuel to the fire of speculation with the mysterious tweets below. Twitter users speculated the missing word should be “tender,” as it would complete the title of “Tender Is the Night,” an F. Scott Fitzgerald novel.

This followed a tweet from the previous Saturday saying “Love Me Tender,” a reference to the famous Elvis Presley song of the same name. The pair of tweets added to suspicions Musk is weighing up a tender offer to buy out Twitter completely. Then, on Wednesday, April 20, Musk indicated in a filing that he was exploring the possibility of making a tender offer. However, no decisions were set in stone yet.

A tender offer is a technique used when directors are unwilling to deal with potential buyers directly. It involves buyers going straight to public shareholders with their takeover bid. Twitter’s board has already rejected a bid of $43 billion for the company, according to the New York Post, and Musk is reportedly trying to secure funding from investors for another bid at the moment.

What do you think of the idea of Musk buying out Twitter?

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