Elon Musk Is Considering A Tender Offer For Twitter To Acquire The Company
Market analysts have been skeptical about Musk's chances and the seriousness of his offer, but Musk is now looking into other options, even if Twitter's board of directors rejects his original offer of $54.20 per share. Musk is considering a tender offer for Twitter, which would effectively circumvent the company's board of directors and place the decision in the hands of the company's shareholders.
Musk has now received $46.5 billion in promises to help fund his Twitter drive, allowing him to proceed with his original offer if it is accepted. While many analysts regarded Musk's initial offer as too low and more likely a publicity ploy than a serious attempt to acquire Twitter, it now appears that Musk is serious about acquiring the platform and transforming it into his idea of a haven for free speech.
According to CNBC:
"In an updated filing published Thursday, Musk said that given the lack of response from Twitter's board, he is now exploring a tender offer to purchase some or all company shares directly from its stockholders."
This corresponds to Musk's recent tweets regarding a possible tender offer.
As documented, Musk's history of attempting to quiet people and information that he doesn't like makes this look a little hazy. Indeed, Musk and Tesla have a long account of using various measures to quiet critics - so while Musk may appear to embrace 'free speech ideals' and enable individuals to speak their opinions, he, too, has boundaries in what that means. This suggests that Musk favors some barriers but not those that may protect other people.
It's still unclear what Musk's objectives for Twitter are and whether he genuinely wants to seize control of the firm. The continuous allusions to '420' and other in-jokes give the impression that Musk is treating this as a high-stakes game, a hobby to keep him entertained – but what would he do with Twitter if he won, and would it improve the platform in any way? Musk continues to tweet his ideas and notions, which may or may not come to fruition under his leadership.
Bots are undoubtedly a problem, and Twitter is continuously attempting to improve, while authenticating all users is also something Twitter has considered in the past, so these aren't novel suggestions. They are, however, likely to be more complicated than Musk, who has no prior experience running a social network.
Which is the core issue: while everyone has their ideas and thoughts on how to improve every social platform, actually putting those ideas and thoughts into action is much more complicated than you might think, and without that internal insight and oversight, it's much easier to come up with optimistic solutions that only work in an idealistic sense.
Musk may believe he knows how to 'fix' Twitter, but his history and his organization indicate that he isn't as receptive to 'free expression.'