(Alex Tien, Headline USA) Elon Musk continues to move in on an attempt to takeover the social media giant Twitter, the Western Journal reported.
The Tesla CEO may be looking to team up with additional investors to launch a new offer at shareholders. This is just the latest twist in the drama unfolding around the potential purchase of Twitter.
When Musk began showing interest in acquiring the company, many liberals responded with extreme fear and prejudice. Last week, reports surfaced of a “poison pill” approach to be taken by Twitter’s board to attempt to block Musk’s takeover of the company.
To get around the board’s schemes, Musk and his co-investors could be preparing to launch a tender offer for Twitter in the coming weeks. A tender offer invites shareholders to “sell their shares for a specified price and within a particular window of time.”
Musk seems to desire a decisive and quick action, and knows the constant news stories surrounding him are to his advantage. To stoke the flames, Musk posted a cryptic tweet that some read as a hint about a pending offer.
According to Aron Solomon, chief legal analyst for Esquire Digital, “We’re going to forget about Elon Musk and Twitter three, four or five days from now if he allows it to go out of the news spotlight. So, I think that he’s got to make some really interesting, quick moves if he has an ultimate endgame here.
Solomon told the Western Journal that he believes Musk wants to strike while the iron is hot and not allow his momentum to pass.
“If [the] endgame is to acquire more than 50 percent of Twitter, I think it makes more sense to get those things in motion now,” he said.
“Like Elon Musk or not, one thing that we know is that he’s able to take things from zero to 60 very quickly, whether it’s SpaceX or Tesla or anything that he wants to do.”
