Just over a week ago, Tesla and Space X CEO Elon Musk bought a 9.2% stake in Twitter, making himself the biggest shareholder in the company.  Left-wing Twitter CEO Parag Agrawal tried to strike a conciliatory note with Musk, saying that the company was looking forward to working with him and even offering him a position on the board.

It now seems like his attempt to extend an olive branch to Musk was nothing more than a move to head off a potential hostile takeover after the board’s ridiculous demands were released.  The demands included capping Musk’s stake in the company at 14.9%.  Musk’s board position would also come with certain fiduciary duties that could prevent him from exposing Twitter’s censorship regime to the public.

After Musk declined to sit on the board, Twitter’s CEO released what was mostly a generic statement saying that he still values Musk’s input despite his decision not to join the board.

 

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At the end of his statement, Agrawal says that there “Will be distractions ahead” and that the “Decisions we make and how we execute is in our hands”.  This combined with Musks refusal to join the board led many to speculate that he is planning a hostile takeover of Twitter.

Just hours after Musk declined to join Twitter’s board, people started speculating about his next move.  “This now goes from a Cinderella story with Musk joining the Twitter board to a likely Game of Thrones battle between Musk and Twitter” said Dan Ives, an analyst who covers Tesla.

Many have said that Musk’s harsh criticism of Twitter following his purchase of 9.2% of Twitter’s stocks is another indicator that he plans a hostile takeover.  In the days since his purchase was made public, Musk has asked his followers if he thinks Twitter is ‘dying’ and proposed making Twitter headquarters a homeless shelter.

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