Against this specific bid: the price is arguably low and holders aren’t likely to want to sell at that price. From Money Stuff: > problem with Musk’s offer is

Against this specific bid: the price is arguably low and holders aren’t likely to want to sell at that price. From Money Stuff: > problem with Musk’s offer is that it is pretty low. Musk points out that $54.20 “represents a 54% premium” over where he started investing in Twitter, and a 38% premium over where the stock was before he announced his position. But Twitter was in the $60s in October, and a lot of its big long-term holders seem unlikely to be sellers at $54.20. “‘No board in America is going to take that number,’ said Jefferies analyst Brent Thill.” Against the bid coming from him: - He famously pretended he was going to take Tesla private and got in trouble because he was pretending. Takeover offers usually don’t have that history I guess. - He doesn’t have financing, not even pretend financing like when he said he was going to take Tesla private