On Thursday, after Musk’s TED talk he hinted at the possibility of a hostile bid in which he would bypass Twitter’s board and put the offer directly to its shareholders, tweeting: “It would be utterly indefensible not to put this offer to a shareholder vote”.

Over the weekend Musk, already the San Francisco-based company’s second-largest shareholder after amassing a 9.1% stake in the social media firm, tweeted Twitter board’s “economic interests are simply not aligned with shareholders”. 

Then on Saturday, Billionaire entrepreneur Elon Musk made another headline after he posted a tweet saying “Love Me Tender”, days after he took aim at Twitter Inc with a $43 billion cash takeover offer.

Everyone was puzzled by his latest tweet, it seems Musk toyed with the financial world in a recent tweet that could mean just about anything.

CNBC noted that the meaning could be rooted in the lyrics of the old Elvis Presley tune or could mean a tender offer is coming up as Musk teaches the world new dance steps for the corporate takeover.

Western Journal explained that a tender offer is usually what takes place when someone trying to amass stock in a company offers to pay stockholders a set price if they sell him their shares. Given that Musk has already made a very public offer to buy Twitter stock, that classic meaning may fit — or Musk may shape it into something very different.

Some of Twitter’s boards are keen on fighting Musk’s plan to take over Twitter – although it is uncertain how long that battle will last.

Then Forbes commented that the spectacle of Musk’s use of social media as he sidled up to his prey, called his approach a “new type of takeover warfare.”

Carliss Chatman, a professor of corporate law at William and Lee said in a statement:

“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.”

Writer Abram Brown said that “Musk’s takeover attempt is, truly, unlike any other in the 40 years or so these things have been going on.” He added that Twitter seems a step 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.”

Sources: TheWesternJournal, Yahoo Finance, Fox Business, CNBC, Forbes

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