BUSINESS

Musk tweets 'Love Me Tender' days after Twitter takeover offer

This is days after he took aim at Twitter Inc with a $43 billion cash takeover offer.

In Summary

•Twitter on Friday adopted a "poison pill" to limit Musk's ability to raise his stake in the company.

•This is days after he took aim at Twitter Inc with a $43 billion cash takeover offer.

Elon Musk has decided not to join the board of Twitter, the company's chief executive Parag Agrawal says.
Elon Musk has decided not to join the board of Twitter, the company's chief executive Parag Agrawal says.
Image: BBC

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

After Musk's TED talk on Thursday, 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 9.1per cent stake in the social media firm, tweeted Twitter board's "economic interests are simply not aligned with shareholders".

Twitter on Friday adopted a "poison pill" to limit Musk's ability to raise his stake in the company.

Thoma Bravo, a technology-focused private equity firm that had more than $103 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.

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