Elon Musk woos Twitter investors with Elvis tune
Entrepreneur Elon Musk has tweeted the title of an Elvis Presley song after Twitter moved to protect itself from the billionaire’s offer to buy the social media giant.
Musk tweeted āLove Me Tenderā, a day after Twitter adopted a āpoison pillā to protect itself from the billionaireās $US43 billion ($A58 billion) cash offer to buy the social media company.
After Muskās TED talk last Thursday, he hinted at the possibility of a hostile bid in which he would bypass Twitterās board and put the offer directly to its shareholders, tweeting: āIt would be utterly indefensible not to put this offer to a shareholder voteā.
In another tweet over the weekend, Musk, a self-described āfree speech absolutistā who has been critical of Twitter and its policies, replied to a post of his from 2017 where he had asked āHow much is it (Twitter)?ā with an upside down smiley.
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Musk, who is also the CEO of electric-vehicle maker Tesla, has amassed a 9.1 per cent stake in Twitter and is the social media firmās second-biggest shareholder.
Shares of Twitter rose 2.1 per cent to $US46.03 in pre-market trading on Monday, still significantly below Muskās offer of $US54.20 per share. The companyās shares have risen roughly 15 per cent since Musk disclosed his stake on April 4.
Thoma Bravo, a technology-focused private equity firm that had more than $US103 billion ($A139 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.
-Reuters
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