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Elon Musk uses inverted smile emoji on 2017 tweet tbout Twitter price

Elon Musk used an upside-down smile emoji on Saturday in a response to a tweet he despatched greater than 4 years in the past about how a lot it could price to purchase Twitter Inc.

Elon Musk used an upside-down smile emoji on Saturday in a response to a tweet he despatched greater than 4 years in the past about how a lot it could price to purchase Twitter Inc.

The Tesla Inc. chief govt officer, who earlier this week launched a $43 billion hostile takeover supply for the social media company, was commenting on a tweet thread from December 2017 by which he expressed his admiration for Twitter and requested how a lot it price to purchase.

The “upside-down smile” emoji is used as a sign of frustration or bemused resignation, based on emojipedia. Twitter on Friday adopted a so-called “poison pill” provision in an try and thwart Musk’s takeover try.

Twitter Brings on JPMorgan as Adviser Alongside Goldman

(Bloomberg) Twitter Inc. has introduced on a second funding financial institution, JPMorgan Chase & Co., to assist it reply to Elon Musk’s hostile bid, based on folks conversant in the matter.

The largest U.S. financial institution began work not too long ago to help Twitter in talks with potential consumers, the folks stated, asking to not be recognized as a result of the matter is non-public.

Representatives for Twitter and JPMorgan declined to remark.

Besides Musk’s supply, Twitter has been fielding takeover curiosity from different events, together with technology-focused non-public fairness agency Thoma Bravo, based on one of many folks acquainted. The New York Post reported Thoma Bravo’s curiosity on Thursday.

A consultant for Thoma Bravo declined to remark.

In bringing on JPMorgan, Twitter is working with a financial institution that hasn’t been afraid to wrangle with Musk. JPMorgan and Musk’s electrical automobile company Tesla Inc. have been embroiled in lawsuits.

They are suing one another over stock transactions, some which might be linked to Musk’s tweet in 2018 that he had secured the funding to take Tesla non-public, an effort that was given up weeks later. The two sides are scheduled to look in court docket subsequent week.

JPMorgan is the newest Wall Street heavyweight to change into concerned with Musk’s quest to purchase Twitter, and joins Goldman Sachs Group Inc. in serving to cope with the 50-year-old billionaire. Morgan Stanley is working with Musk.

Missing Out

JPMorgan’s involvement can also be a blow to the boutique funding banks, who’ve been more and more competing for market share towards the bulge brackets.

Twitter was suggested by boutique advisory agency Allen & Co. in 2020 when the company was tussling with activist investor Elliott Investment Management, based on information compiled by Bloomberg.

This time round, no boutique funding financial institution seems to be concerned though firms have a tendency so as to add on extra advisers as transactions drag on.

Goldman, which has been traditionally near Musk, together with being the lead financial institution in 2018’s failed try and take Tesla non-public, was conflicted from advising the billionaire attributable to its longstanding relationship with Twitter.

Twitter adopted a so-called poison tablet on Friday, a measure to assist protect it from Musk buying extra of the company. The transfer might purchase the board extra time to determine find out how to proceed.

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