On April 14th, after Elon Musk’s TED talk he alluded to the possibility of a hostile bid in which he would bypass Twitter’s board and present a deal straight to its investors, tweeting: “It would be utterly indefensible not to put this offer to a shareholder vote”.
Over the weekend Musk, who is the San Francisco-based business’s second-largest investor, to begin with, after buying a 9.1% stake in the social networks company, tweeted Twitter board’s “economic interests are simply not aligned with shareholders”.
On Saturday, Billionaire business owner Elon Musk made another heading after he published a tweet stating “Love Me Tender”, days after he took objective at Twitter Inc with a $43 billion money takeover deal.
Everybody was puzzled by his newest tweet, it appears Musk dabbled the monetary world in a current tweet that might imply almost anything.
🎶 Love Me Tender 🎶
— Elon Musk (@elonmusk) April 16, 2022
CNBC kept in mind that the significance could be rooted in the lyrics of the old Elvis Presley tune or might imply a tender deal is turning up as Musk teaches the world brand-new dance actions for the business takeover.
Western Journal discussed that a tender deal is generally what happens when somebody attempting to generate stock in a business uses to pay shareholders a set cost if they offer him their shares. Since Musk has actually made an extremely public offer to purchase Twitter stock, that traditional significance might fit– or Musk might form it into something really different.
A few of Twitter’s boards like battling Musk’s strategy to take control of Twitter– although it doubts the length of time that fight will last.
Forbes commented that the phenomenon of Musk’s usage of social media as he sidled up to his victim, called his technique a “new type of takeover warfare.”
Carliss Chatman, a teacher of business law at William and Lee stated in a declaration:.
“This is totally weird and unusual. Sure you’ve got some other takeovers lately, like Jos. A. Bank trying to merge with Men’s Warehouse. But this is some rich megalomaniac trying to buy something and treating it all like playing with a toy.”
Author Abram Brown stated that “Musk’s takeover attempt is, truly, unlike any other in the 40 years or so these things have been going on.” He included that Twitter appears an action behind:.
“Twitter HQ has seemed pained to meet Musk on this novel battleground, ironically, one it helped create. (It declined to comment for this story.) While Musk on Monday tweeted about how he intended to cut board members’ pay to $0 if he takes control, Twitter made a lengthy filing with the SEC detailing its poison pill measure.”
More from Western Journal:
Twitter’s board was recently scolded by former Securities and Exchange chairman Harvey Pitt for its bumbling.
“I would give Twitter’s board an F,” Pitt said according to Yahoo Finance.
“I believe under the circumstances, they needed to check out whether this was a real bid. If it were a real bid, then they needed to do what was in the best interest of their shareholders.”
Musk’s offer was “a price that hadn’t been seen in quite some time. The number is at least a legitimate frame of reference, and the board’s unwillingness to treat it seriously strikes me as worthy of a poor grade,” he said.
As noted by Fox Business, former Twitter CEO Jack Dorsey recently called the board “the dysfunction of the company.”
