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After Musk's TED talk on Thursday, he hinted at the possibility
of a hostile bid in which he would bypass Twitter's board and
put the offer directly to its shareholders, tweeting: "It would
be utterly indefensible not to put this offer to a shareholder
vote".
In another tweet over the weekend, Musk, a self-described "free
speech absolutist" who has been critical of Twitter and its
policies, replied to a post of his from 2017 where he had asked
"How much is it (Twitter)?" with an upside down smiley.
Musk, who is also the CEO of electric-vehicle maker Tesla Inc,
has amassed a 9.1% stake in Twitter and is the social media
firm's second-biggest shareholder.
Shares of Twitter rose 2.1% to $46.03 in premarket trading on
Monday, still significantly below Musk's offer of $54.20 per
share. The company's shares have risen roughly 15% since Musk
disclosed his stake on April 4.
Thoma Bravo, a technology-focused private equity firm that had
more than $103 billion in assets under management as of the end
of December, informed Twitter that it was exploring the
possibility of putting together a bid, people familiar with the
matter told Reuters on Friday.
(Reporting by Akriti Sharma and Chavi Mehta in Bengaluru;
Editing by Shounak Dasgupta)
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