“Love Me Tender” Musk continues to cause a stir on Twitter

Billionaire entrepreneur Elon Musk tweeted a series of dashes for a missing word followed by “is the night,” days after he offered to buy Twitter for $43 billion.

Mr Musk’s bid, which has hinted at the possibility of a hostile bid, has prompted the social media company to adopt a “poison pill” corporate strategy to protect itself.

Mr Musk, who is also chief executive of electric vehicle maker Tesla, tweeted “Love Me Tender,” the title of a song by Elvis Presley, on Monday, after Twitter decided on a strategy of selling shares at a discount to discourage any attempt by shareholders , to accumulate a stake of more than 15pc. Mr. Musk currently has a 9.1 percent stake.

That New York Post reported on Tuesday that Mr Musk is willing to invest between $10 billion and $15 billion of his own money to make Twitter private, citing two sources familiar with the matter.

The billionaire, Twitter’s second-largest shareholder, plans to launch a takeover bid in about 10 days and has tapped Morgan Stanley to raise another $10 billion in debt, the report said.

Mr. Musk may also be willing to borrow against his current stake if necessary, a move that he says could potentially net several billion additional dollars New York Post Report.

Twitter declined to comment. Tesla did not immediately respond to a Reuters request for comment from Mr Musk.

Other private equity firms have expressed interest in becoming involved in a deal for Twitter, people familiar with the matter told Reuters on Monday, without naming the firm.

The interest arose after Thoma Bravo, a tech-focused private equity firm, contacted the social media platform last week to explore a takeover that would challenge Mr Musk’s bid.

Analysts expect Twitterr’s board to reject Mr Musk’s offer in the coming days, saying it was insufficient.

https://www.independent.ie/business/technology/news/love-me-tender-musk-continues-to-raise-heat-on-twitter-41571585.html “Love Me Tender” Musk continues to cause a stir on Twitter

Fry Electronics Team

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