Elon Musk keeps tweeting about his hostile takeover bid for Twitter
Twitter's "poison pill" isn't stopping Elon Musk from tweeting about his hostile takeover bid.
Why it matters: It's uncertain if Musk will be able to acquire Twitter, as he admitted himself at the TED conference last week. But it's clear that Musk is not yet giving up on the opportunity.
What's happening: In response to a breakdown of the board members' stock holdings, Musk tweeted, "Wow, with [Twitter co-founder and former CEO] Jack [Dorsey] departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders."
- Shortly thereafter, Musk tweeted, "Love Me Tender" — perhaps using the name of the Elvis Presley song to hint at a future tender offer.
- "In fairness to the Twitter board, this might be more of a concern about other potential bidders vs just me," Musk tweeted on Saturday, replying to a tweet about the "poison pill."
Yes, and: Dorsey also has been tweeting about the happenings. He chimed in on a thread about the impact of board members on a startup's success or failure.
- "[I]t's consistently been the dysfunction of the company," Dorsey tweeted about the history of Twitter's board.
The bottom line: "Musk has given conflicting signals on what he would do if his bid fails. He said last week that he would reconsider his position as Twitter's shareholder if his offer is rejected." — Reuters