Elon Musk Made an Offer to Buy Twitter for $41.30 Billion
The largest shareholder of the company, ELON MUSK has made an offer to buy Twitter to become a 100% shareholder in the company. The offer was made by Musk the day after he rejected the seat on the social media company's board. Musk said in a letter to Bret Taylor, Twitter Chairman -" Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed into a private company,"
Tesla's CEO has shared the update on their Twitter account is self with adding "I made an Offer" and sharing a link. Elon has offered the price of per share at $54.20 per share, disclosed in a regulatory filing on Thursday, representing a 38% premium to closing on April 1st, the last trading day before musk became the largest shareholder in the company "My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder," Musk said. "I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced.", Elon musk added - “Twitter has extraordinary potential. I will unlock it.”