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Elon Teases His Next Move and Warns About the Dangers of the ‘Woke Mind’ – Opinion

By Pluralist / April 20, 2022

Reports are that Elon Musk’s “Plan B” to acquire Twitter is coming together and that he’s likely to make a bid to buy it within about ten days. When last we left you in the saga, we noted that he would eliminate salaries/compensation for the Twitter board if he takes over, which might explain why they would not be enthusiastic about a deal

Musk gave us another hint as to his future plans with this tweet.

It’s kind of fun to play “guess the plan.” The NY Post may have figured out the answer: “Tender is the Night” — a famous novel by F. Scott Fitzgerald and later made into a movie. This is a sign that Musk plans to make a tender offer. It is intended to bypass the board and go directly to shareholders.

When an investor offers to purchase shares at a specific price from a public company, a tender offer is often used. The investor normally offers a higher price per share than the company’s stock price, providing shareholders a greater incentive to sell their shares.

Musk had previously tweeted, “Love me Tender” — another indication of where he might be going.

The NY Post also notes that the latest “clue” may have another meaning as well — that 4/20 is a meme for pot smokers that Elon often likes to refer to.

According to the Post, Musk is working on a “complex deal that raises debt against both the company and possibly his stock, as well as a giant cash equity infusion from co-investors.”

According to two people familiar with the situation, Musk would be willing to put between $10 billion-$15 billion of his cash into Twitter to privatize it. That’s up from the current 9.1% stake in the company he revealed on April 4, which is worth about $3.4 billion.

Sources said that Musk could also consider borrowing against his existing stake, which would allow him to raise additional billions.

“The co-investors will combined have more equity than Musk but he will be the biggest single holder,” one of the sources said.

Nevertheless, it’s mainly outside financing that will carry the bid for Musk, who has tapped Morgan Stanley to raise another $10 billion in debt against Twitter in the manner of a traditional leveraged buyout, the sources said.

As first reported by The Post on Friday, however, the bulk of the money — about $20 billion, according to sources — will come from co-investors who will finance a hostile tender offer directly to Twitter shareholders, sources said.

Musk also indicated that he has issues with “woke” stuff taking over and censorship.

He commented on why Netflix’s shares had been cratering, noting that “Netflix is now unwatchable because of the woke mind virus.”

He even agreed it was the “greatest threat to civilization.” No wonder they don’t want him in charge when he thinks that way.

Musk expressed concerns about social media censorship.

I suspect he knows generally, although perhaps not specifically, the “who” — which is why he’s trying to buy Twitter.

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Pluralist

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