Bid for Twitter: Elon Musk's Buffett-like playbook may not work

“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 Musk’s track record of reversing his positions also weighs against him.

Buffett is known for clinching large deals through his conglomerate Berkshire Hathaway, such as the $11.6-billion deal to buy property and casualty reinsurer Alleghany and his $37 billion acquisition of aerospace equipment maker Precision Castparts, by making only one offer and