The biggest red flag for Elon's deal to purchase Twitter is this:Thanks for reading Rolling Dividends ! Subscribe for free to receive new posts and support my work. Where are the other bidders? In a leveraged buyout, when an offer is made to acquire a company, the target company is said to be "in play." Other potential buyers will take a run at the target company. If they are lucky, they can out outmaneuver or outbid the original would-be purchaser and snatch the target company up for themselves.