Mass suicides reported at Twitter HQ, Reddit is next
(twitter.com)
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What the duck? Can he even pull this off? I know he is very intelligent but he is risking a lot here, is he not? How much money does twitter make and from what, twitter seems like a very bad investment? I hope this does not end up biting Elon in the ass.
In short, he can but the ball right now is in the board's court. They can accept his offer (in which case the shares are recalled by the company at $54.20) or they can refuse.
If they refuse, Elon can try to buy a 50.1% stake on the open market. Attempting to do so would be... expensive.