Elon Musk is considering buying the whole Twitter company. Check out his price and the latest reports below.
He offered $54.20 a share, saying the social media company needs to be transformed privately.
“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 wrote in a letter sent to Twitter Chairman Bret Taylor and disclosed in a securities filing.
It’s worth noting that Twitter shares jumped 12% in premarket trading after closing at $45.85 a share on Wednesday.
Below, you can check out the letter Musk sent to Twitter Chairman Bret Taylor, as disclosed in a securities filing:
“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.”
The letter continued:
“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.
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. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.
Twitter has extraordinary potential. I will unlock it.
Elon Musk”
Letter: pic.twitter.com/QPz9afA7sg
— db (@tier10k) April 14, 2022
Elon Musk and Twitter
Not too long ago, we revealed that Musk just become the biggest shareholder at Twitter. He reportedly bought a $3 billion stake (9.2%) and the Internet is going crazy with excitement.
Twitter is currently celebrating the great news and there are all kinds of juicy posts about this.
Elon Musk has already made ~$750 million on his Twitter trade, which is approximately double Twitter’s net income for the last 3 years.
— Ben Thompson (@benthompson) April 4, 2022
Musk did not take a board seat.
