Entrepreneur Elon Musk, the world’s richest man, posted what some are calling a “cryptic tweet” over the weekend that might signal his next potential move as he seeks to buy Twitter for tens of billions of dollars.
Musk tweeted, “Love Me Tender” along with musical note emojis on Saturday, leading to speculation that the word “tender” could be “a likely wink-and-nod reference to a potential tender offer to Twitter Inc. shareholders for control of the company,” Bloomberg News reported. “If Twitter directors ultimately reject him, the world could learn whether Musk was truly threatening a direct appeal to shareholders or had just added the 1956 Elvis Presley hit ‘Love Me Tender’ to his playlist.”
🎶 Love Me Tender 🎶
— Elon Musk (@elonmusk) April 16, 2022
The U.S. Securities and Exchange Commission (SEC) notes that a “tender offer” is “is typically an active and widespread solicitation by a company or third party (often called the ‘bidder’ or ‘offeror’) to purchase a substantial percentage of the company’s securities.”