Tesla Inc TSLA CEO Elon Musk on Tuesday sent out yet another cryptic tweet suggesting he is either reading F. Scott Fitzgerald’s novel “Tender Is The Night,” or considering a potential tender offer to Twitter Inc TWTR in a hostile takeover bid of the microblogging company.
What Happened: The billionaire entrepreneur’s tweet said “_______ is the Night,” leaving the first word blank.
_______ is the Night— Elon Musk (@elonmusk) April 20, 2022
The latest tweet comes days after Musk posted “Love Me Tender" — the title of Elvis Presley's 1956 hit song — on his social media page, in his first hint that he is likely considering a potential tender offer to Twitter shareholders.
Musk’s Hostile Takeover Bid: The world’s richest person recently disclosed a 9.1% stake in Twitter, making him its largest individual investor, offered $43 billion to take the firm private.
The Twitter board has put a "poison pill" in place to thwart Musk’s attempt to buy more stake in the company but is yet to accept or reject his proposal.
Musk’s hostile bid has also caught the interest of other buyout firms, one of which is considering teaming up with the world's richest man. Twitter may provide more details during its quarterly earnings report next week.
Price Action: Twitter stock closed 4.7% lower at $46.16 a share on Tuesday and is up 8.2% this year.
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