Mark Cuban says 'every major tech company' is calling their lawyers about buying Twitter after Elon Musk's hostile bid
- Billionaire investor
Mark Cubanon Thursday offered his take on Elon Musk's $43 billion takeover bid for
- 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 Twitter, 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 message on Twitter to his 8.6 million followers in referencing Alphabet's key business and Facebook, now Meta Platforms.
"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 $43 billion takeover bid for Twitter. The Tesla boss has become the app's largest stockholder and, in a U-turn just days ago, decided not to join the company's board.
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 banning former US president Donald Trump in what he views as an attack on free speech.
Meanwhile, the issue of free speech is at the center of Musk's battle with the Securities and Exchange Commission. 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, @elonmusk is fucking with the SEC," Cuban said in another tweet 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.
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