Elon Musk Posts Cryptic “Elvis” Tweet That Might Explain His Plan B – Here Are The Details

Twitter announced that they would be pulling a “poison pill” effort to defend against Elon Musk’s effort to buy Twitter. That move wasn’t in the best interests of the shareholders and could subject them to lawsuits.

Musk said he had a “Plan B,” if Twitter tried to cut off his effort.

According to reports, Musk is now securing partners to go in with him on the buy. So if he is limited in the percentages he can buy, he can try to circumvent that limitation by having partners buy up to the maximum as well.

At the same time, there was a report that the SEC and the DOJ were looking into some of Musk’s prior actions. The timing of that report looked like it was an effort to interfere in Elon’s bid for Twitter, either by smearing him or warding him off. It didn’t work, since he’s still forging ahead.

On Saturday, Musk made the point that the Twitter board owns very little stock, so they have no real skin in the game — that they aren’t hurt if they make bad decisions that hurt the shareholders — like not accepting Musk’s offer for more than the shares are currently worth. He wrote on Twitter:

Wow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders.

— Elon Musk (@elonmusk) April 16, 2022

Musk also noted that one of the board members, Robert Zoellick, has never even logged onto Twitter.

!

— Elon Musk (@elonmusk) April 16, 2022

Musk also indicated that he thinks the “game is rigged,” if he is not able to buy Twitter.

Indeed

— Elon Musk (@elonmusk) April 16, 2022

However, Musk will not give up without a fight and he might have exposed a glimpses of his plan B!

Thanks to his cryptic “Elvis” tweet, we likely know exactly what that next move is…

Here’s what Elon said in a tweet he put out yesterday:

“Love Me Tender.” And he added two musical notes. It’s a song by Elvis, but it also means something else…

🎶 Love Me Tender 🎶

— Elon Musk (@elonmusk) April 16, 2022

It looks as if Elon’s “Plan B” is a Tender Offer.

A tender offer is a proposal that an investor makes to the shareholders of a publicly traded company. The offer is to tender, or sell, their shares for a specific price at a predetermined time. In some cases, the tender offer may be made by more than one person, such as a group of investors or another business. Tender offers are a commonly used means of acquisition of one company by another.

A tender offer is a conditional offer to buy a large number of shares at a price that is typically higher than the current price of the stock. The basic idea is that the investor or group of individuals making the offer are willing to pay the shareholders a premium – a higher than market price – for their shares, but the caveat is that they must be able to buy a specified minimum number of shares. Otherwise, the conditional offer is canceled. In most cases, those that extend a tender offer are looking to acquire at least 50% of the company’s shares in order to take control of the company.

The goal is to entice shareholders to sell at this juicier high price so they can make quick money and get out… especially in this case, since Twitter’s board doesn’t care one iota if they tank the company. Clearly, this is about power and controlling the narrative for them, not making money.

(This post may contain disputed claims. We make no assertions as to the validity of the information presented by our Opinion Columnist. This is an opinion article, and this post should be treated as such. Enjoy.)