- Billionaire investor
Mark Cuban on Thursday offered his take onElon Musk 's $43 billion takeover bid forTwitter . - He said every major tech company is talking with lawyers to talk about putting in a bid.
Billionaire investor Mark Cuban on Thursday offered his take on fellow billionaire Elon Musk's buyout bid for $4, saying the offer has set off a search by Big Tech firms to scoop up the social media app.
"Every major tech company, Google, fb, et al is on the phone with their anti trust lawyers asking if they can buy Twitter and get it approved," Cuban wrote in a $4 to his 8.6 million followers in referencing $4 key business and $4.
"And Twitter is on the phone with their lawyers asking which can be their white knight. Gonna be interesting," the "Shark Tank" TV star and Dallas Mavericks owner said in finishing the tweet after Musk's $4. The $4 boss has become the app's largest stockholder and, in a U-turn just days ago, $4.
Musk, who has 81.7 million Twitter followers, has been vocal about changes he'd like to see the company. Among them, Musk has criticized Twitter for $4 in what $4.
Meanwhile, the issue of free speech is at the center of Musk's $4. Musk last month again asked a federal judge to throw out a 2018 agreement he made with the SEC that requires Tesla lawyers to vet many of his tweets.
"My conclusion,$4 is fucking with the SEC," Cuban $4 Thursday. "His filing w/the SEC allows him to say he wants to take a company private for $54.20 [versus] his 'Am considering taking Tesla private at $420. Funding secured' Price go up. His shares get sold. Profit SEC like WTF just happened.'"
Shares of Twitter soared by more than 10% during the session before turning lower to trade below $46 a share. Musk said in a letter he will "unlock" the "extraordinary potential" of Twitter if he's successful with his bid of $54.20 a share.