Musk unrelenting over Twitter takeover, wants to bypass board

World’s richest man Elon Musk has not given up on his plan to take over Twitter in a $43 billion buyout as he tweeted on Saturday, saying “Love Me Tender”.

After Musk’s TED talk on 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.

He tweeted: “It would be utterly indefensible not to put this offer to a shareholder vote”. read more

Over the weekend Musk, already the San Francisco-based company’s second-largest shareholder after amassing a 9.1% stake in the social media firm, tweeted Twitter board’s “economic interests are simply not aligned with shareholders”.

Twitter on Friday adopted a “poison pill” to limit Musk’s ability to raise his stake in the company. read more

Thoma Bravo, a technology-focused private equity firm that had more than $103 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.