InQueensland

NEWS •⁠ POLITICS •⁠ BUSINESS •⁠ CULTURE

Get InQueensland in your inbox Subscribe

Elon Musk woos Twitter investors with Elvis tune

Business

Entrepreneur Elon Musk has tweeted the title of an Elvis Presley song after Twitter moved to protect itself from the billionaire’s offer to buy the social media giant.

Print article

Musk tweeted “Love Me Tender”, a day after Twitter adopted a “poison pill” to protect itself from the billionaire’s $US43 billion ($A58 billion) cash offer to buy the social media company.

After Musk’s TED talk last 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”.

In another tweet over the weekend, Musk, a self-described “free speech absolutist” who has been critical of Twitter and its policies, replied to a post of his from 2017 where he had asked “How much is it (Twitter)?” with an upside down smiley.

Musk, who is also the CEO of electric-vehicle maker Tesla, has amassed a 9.1 per cent stake in Twitter and is the social media firm’s second-biggest shareholder.

Shares of Twitter rose 2.1 per cent to $US46.03 in pre-market trading on Monday, still significantly below Musk’s offer of $US54.20 per share. The company’s shares have risen roughly 15 per cent since Musk disclosed his stake on April 4.

Thoma Bravo, a technology-focused private equity firm that had more than $US103 billion ($A139 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.

-Reuters

More Business stories

Loading next article