The offer is technically hostile because it was unsolicited, and the offer was made at the same time he indicated he wanted to buy-out the company (usually there's a gap).

A more typical way of doing this would be to make a proposal directly to the board first. The fact that Elon did it in public means he's trying to pressure the board (via the shareholders) into taking an action they wouldn't otherwise want to take which makes it hostile.

I dunno, this seems a lot like a rejection.

Hostile, in financial terms, is whenever the board or CEO did not initiate a conversation around an acquisition, and it is just made to the company.

No it isn't. They key is that management and board are against it and the deal is still pursued by the (potential) acquirer. It is perfectly possible to initiate a conversation regarding an acquisition and this is not a hostile takeover per-se though it could develop into one.

https://www.investopedia.com/terms/h/hostiletakeover.asp

Musk made an unsolicited, and what seems to be a non-investment choice, purchase of almost 10% of the shares and wanted to join the board. As far as I can tell, the board made his board seat contingent on Musk not buying more than 14.9% and Musk said no, and a few days later offered to buy the company outright. Now Twitter is taking moves to prevent a hostile takeover. That sounds like a hostile takeover to me.

I'm not acting at all, I'm just nailing down what a hostile takeover bid is because there seems to be some lack of clarity about that.

I misread the context of your comment.

np, it happens.

Just to clarify, that does make Musk's offer a hostile takeover bid, as is also stated in that link.

Yes it does, and this is underlined by the fact that they adopted the poison pill proposal. Though, in the past such tactics have been used just to get a better price, in investment banking 'no' doesn't really always mean 'no', it may just mean 'really, no, not at this price'. That said this is already a pretty premium and they might end up regretting that move if they really are after the money and don't have a different motivation.

they->the

What? This is not just wrong, it's comical to even think of what it would mean if it were true. The board would have to clairvoyantly foresee any possible acquirer who might be interested in the company, or else reach out to every company and individual in the world, stating its willingness - or otherwise - to be acquired. That would be, uh, quite something.

No, right now it is an unsolicited offer. That doesn’t mean hostile, in financial terms.