Elon Musk on Saturday he posted a cryptic tweet that read “Love Me Tender,” suggesting he was listening to Elvis or possibly considering a possible public offer for Twitter shareholders to take control of the company.
A public offer would be the latest in the saga of his dramatic attempt to take control of Twitter. Another tweet suggests that Musk believes shareholders should decide the future of the company, not the board.
Twitter shares rose more than 3% in premarket trading.
“Wow, with Jack gone, the Twitter board as a whole owns almost no shares!” he also tweeted on Saturday, referring to former CEO Jack Dorsey, who give up twitter forum this year. “Objectively, their economic interests are simply not aligned with the shareholders!”
The Tesla and the CEO of SpaceX offered last week to buy Twitter for $54.20 a share, which would make it worth about $43 billion. On Friday, Twitter adopted a time-limited shareholder rights planoften referred to as a “poison pill”, in an effort to prevent possible hostile takeover.
Musk has amassed a more than 9% stake in the company in recent weeks. Twitter then extended an offer to Musk to join the board, but on the condition that Musk could not buy more than 14.9% of the company. Musk changed course and instead made an offer to make Twitter private.