Elon Musk – The Tesla “tycoon” wants to transform Twitter and has offered the “best and last price” to buy 100% of the company’s shares.
After buying a 9.2% stake in Twitter, Elon Musk officially announced that he was joining the board, then changed his mind and resigned. Now, the billionaire has told the board that he believes Twitter needs to be “transformed.” According to the Daily Mail, Musk has offered to buy back Twitter for $41.39 billion, paying $54.20 per share.
In a statement to Twitter’s board of directors, Musk said: “I invest in Twitter because I believe in the potential of this social network to become a platform for freedom of expression globally. And I believe that freedom of expression is essential.” . . . for a functioning democracy. However, since I made my investment, I now realize that the company is not going to prosper as well. it does not serve the social imperatives of society if it is in its current form. Twitter must become a private company. I would recommend buying 100% of Twitter at $54.20 per share.”
The Telsa official said this is their latest and best price. Musk added: “If this offer is not accepted, I will have to reconsider my position as a shareholder.”
Musk’s purchase intent was revealed in a regulatory filing. On Monday, April 11, Musk signed a petition with the Securities and Exchange Commission saying that he had turned down a seat on the board. According to that document, Musk will be able to “express his views” on the company to the board, but he will also be able to buy more shares.
Concluding his statement, Elon Musk added: “Twitter has extraordinary potential. I will unlock them.” Currently, the American billionaire’s Twitter account has more than 80 million followers and he has used the platform to make many important announcements, causing a stir in the market.
Currently, the Twitter Board of Directors has not yet issued a public response.