¡°My offer is my best and final offer.¡±
Elon Musk¡¯s $43 billion bid for Twitter takes a page out of Warren Buffett¡¯s take-it-or-leave-it playbook. But investment bankers, investors and analysts said he needed a blowout bid and more details on his financing for this strategy to work. They added that Musk¡¯s track record of reversing his positions also weighs against him.
Buffett is known for clinching large deals through his conglomerate Berkshire Hathaway Inc, such as the $11.6 billion deal to buy property and casualty reinsurer Alleghany Corp. and his $37 billion acquisition of aerospace equipment maker Precision Castparts Corp., by making only one offer and refusing to negotiate.
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