"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.