Let us see if Elon Musk has learnt anything. Four years ago, the Tesla chief executive loosely offered to take his electric vehicle company private, at one point misleadingly posting a tweet that he had “funding secured” for such a transaction.
This message flouted US securities law sufficiently for US regulators to require Musk’s social media activity to be preapproved by lawyers.
Musk is once again making blockbuster M&A proclamations. On Thursday, he offered to buy the 91 per cent of Twitter he does not own at an implied aggregate equity valuation of $43.4bn.
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