Tesla CEO Elon Musk hinted at ‘moving on’ from his ongoing Twitter takeover bid in a tweet early Sunday morning – days after filing paperwork with the Securities and Exchange Commission outlining how he would seize the social media giant.
‘Moving on …’ Musk tweeted more than 83 million followers.
The post had over 136,000 likes, 11,000 retweets and more than 2,400 quote tweets from as of Sunday morning.
Musk made the vague proclamation days after he filed documents Thursday with the SEC.
He had previously committed $21 billion in equity, $13 billion from Morgan Stanley in debt facilities and another $12.5 billion from the bank and others in margin loans.
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Tesla CEO Elon Musk may be getting cold feet over his proposed Twitter takeover, after cryptically tweeting ‘moving on’ on Sunday
But ‘a portion’ of his shares in Tesla have been put forward as collateral, which analysts feared could have a huge impact on the firm.
The 50-year-old billionaire also revealed Thursday he was weighing up launching a tender offer for Twitter after the company ignored his acquisition offer.
He said he was exploring getting stocks directly from shareholders but admitted he ‘has not determined whether to do so at this time’.
The move signals Musk ramping up his commitment to seizing Twitter after weeks of back and forth between the entrepreneur and company.
Earlier this week, the social media giant filed its ‘poison pill’ defense with the SEC in a last-ditch attempt to prevent him from increasing his stake in the firm further.
Musk, the world’s richest man, currently owns a 9.2 per cent stake in the tech giant and is trying to take it private with an unsolicited bid of $54.20 per share.
In a Twitter poll taken by nearly 20,000 users, 73 percent wanted Musk to purchase Twitter, while another 27 percent were opposed to it.
Meanwhile, Twitter’s share price closed 0.77 per cent up at $47.08 on Thursday, as speculation continues to rumble as to whether Musk’s audacious bid will be successful.
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