Elon Musk has put in a huge offer to buy Twitter, due in part, because he believes the social media platform “needs to be transformed as a private company.” This move comes just a few days after Musk became Twitter’s largest shareholder.
He even intended to join Twitter’s board, but reversed that decision and ended up being sued by shareholders. Now, in a filing on Thursday (April 14), he announced his plan.
He wants to “buy 100% of Twitter for $54.20 per share in cash.” This would amount to $43 billion. Musk is reportedly worth around $260 billion. Click inside to read more… “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,” Elon said in his letter to Bret Taylor, Chairman of the Board. “However, 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 as a private company.” He continued, “As a result, 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.
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