By Sam Becker 2 minute ReadWhen Elon Musk tweeted “Love Me Tender” on April 16, he wasn’t sharing his favorite Elvis Presley song, he was foreshadowing his next move in his attempt to take over Twitter. Musk is currently exploring a tender offer on the social media network, according to a new filing with the U.S. Securities and Exchange Commission (SEC), which notes that Musk has $46.5 billion committed to help secure a deal. The tender offer would be, in effect, a hostile takeover attempt by Musk following his initial offer to buy Twitter for $54.20 per share, or more than $40 billion in cash. That offer was largely met with crickets from Twitter’s board—and the adoption of a “poison pill” strategy that would dilute his stake if he purchased more than 15% of the company. He is now exploring a potential tender offer in order to take control of the company. Musk is the second-largest Twitter shareholder behind Vanguard Holdings, and by buying up more shares through a tender offer, he could become its largest, while gaining a controlling interest in the company. Morgan Stanley, which is Twitter’s third-largest shareholder, leads Musk’s updated funding commitment, according to the SEC filing.A…
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What an Elon Musk tender offer would mean for Twitter shareholders – Fast Company
