Key Words: Cryptic tweet from Elon Musk raises speculation about Twitter tender offer
” ______ is the Night.”
That was the extent of an early Wednesday tweet by Tesla’s
CEO Elon Musk. It was just enough to fuel speculation that the world’s wealthiest individual may be ready to launch a tender offer for Twitter if the company’s board rejects his $43 billion, so far unfinanced, bid to buy the remainder of shares he doesn’t own and take it private.
Notable as well, was the fact that he tweeted on April 4, or 4/20, also known as World Cannibas Day. The most recent link to that date was Musk’s $54.20 per share offer for Twitter
Twitter shares in Wednesday premarket trade edged up to $46.48.
In an infamous 2018 tweet, he said he would consider taking Tesla private at $420 a share.
Some were filling in the blanks of his latest “night” tweet to mean a takeover offer for the company was imminent if the Twitter board doesn’t accept his offer. “Tonight is the night” or even “Tender is the night,” the title of F. Scott Fitzgerald’s 1934 novel, were raised as possibilities for what Musk meant to say.
Twitter adopted a poison pill plan on April 15, not long after Musk made his takeover offer public through a Securities and Exchange filing. Musk has been reportedly scrambling to raise cash for his bid, and ready to use $10 billion and $15 billion of his own money to take the company private, the New York Post reported Tuesday, citing sources. The bulk of the $43 billion bid would come from outside financing, the report said.
Read: Jack Dorsey: Twitter board has ‘consistently been the dysfunction of the company’