Thursday, Sep 29, 2022
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Elon Musk’s This Cryptic Tweet Fuels Speculations About Twitter’s Tender Offer

The development came two days after the microblogging site introduced the ‘poison pill’ defense to wield the hostile takeover by Twitter. 

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Tesla CEO Elon Musk (File photo) AP

Days after proposing to buy the microblogging site Twitter Inc, SpaceX and Tesla CEO Elon Musk late Wednesday tweeted a blank space followed by the phrase ‘is the night,’ thus heightening the speculations about a tender offer to buy the social media platform. His tweet read, "________ is the night."

According to reports, the blank space in his tweet is being referred to the word ‘Tender’ in relation to a book written by renowned author F Scott Fitzgerald. The blank space can also be deciphered as ‘Tonight’ as musk used seven underscores in the blank space. 

The development came two days after the microblogging site introduced the ‘poison pill’ defense to wield the hostile takeover by Twitter. 

Last week, Musk offered to buy Twitter worth $41.39 billion. He offered $54.20 per share, at a 38 per cent premium to the closing price of Twitter’s stock on April 1, the last trading day before Musk bought the majority stake in the company. In a letter to Twitter Chairman Bret Taylor, Musk said, “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.”

Musk, who is the second-largest shareholder at Twitter, currently owns a 9.2 per cent stake in the company. Musk made a passive investment of 73.5 million shares of common stock in his personal capacity. 

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