Elon Musk Offers to Buy 100% of Twitter, Calls it ‘Best and Final Offer’
Tesla CEO Elon Musk has reportedly offered to buy 100% of Twitter at a price of USD 54.20 per share, after taking a stake of 9.2% earlier this month. This offer would value Twitter at close to USD 43.4bn.
Musk reportedly called the offer his “best and final offer,” the Wall Street Journal reported, quoting the largest shareholder of Twitter as saying that “If it is not accepted, I would need to reconsider my position as a shareholder.”
Writing in a letter to Twitter Chairman Bret Taylor that was disclosed in a securities filing, Musk said:
“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.”
Musk is known as an active Twitter user and free-speech proponent who has previously voiced dissatisfaction about the way Twitter handles freedom of speech issues on its platform.
The outspoken CEO has also used the social media platform extensively to tweet about crypto, including his views on bitcoin (BTC) and – arguably his favorite coin – dogecoin (DOGE).
Recently, Musk bought a 9.2% stake in Twitter, becoming the company’s largest shareholder. Following the investment, Musk was offered a seat on the company’s board by Twitter CEO Parag Agrawal, but declined the offer.
Twitter’s stock closed at USD 45.85 on Wednesday. Musk’s offer would indicate a rise of approximately 18% for the stock from current levels.____(This is a developing story and is being constantly updated with new details and comments.) ____Learn more: - Musk Not Joining Twitter’s Board But Wants 'Significant Improvements', Teases DOGE Payments Integration- Elon Musk Won't Sell Bitcoin, Ethereum, Dogecoins as Inflation Soars and Recession
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