Elon Musk tweet hints at possible tender offer to Twitter shareholders

CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing “Cyber Rodeo” grand opening party on April 7, 2022 in Austin, Texas.

Musk posted a cryptic message that suggested he was listening to Elvis or considering a potential tender offer to take control of the company.

The latest in the saga is a tender offer. Musk believes shareholders should decide the company's future, not the board.

In premarket trading, the shares of the company were up more than 3%.

The board collectively owns almost no shares, with Jack leaving, he said on Fridy.

The CEO of the two companies offered to buy the company for $54.20 a share, which would value it at $43 billion. A poison pill is a shareholder rights plan adopted by a company to ward off a hostile takeover.

Musk has a 9% stake in the company. Musk was offered to join the board, but only if he could not buy more than 14.9% of the firm. Musk made a bid to take the social network private.