Elon Musk Offered To Buy Twitter For $41.4 Billion
Tesla CEO Elon Musk has made a cash offer to buy Twitter, just days after declining the company’s invitation to join its board.
Musk recently acquired a 9.2% stake in the company, making him the largest individual shareholder. On Thursday he issued a filing with the U.S. Securities and Exchange Commission proposing a full takeover for $54.20 per share in cash — a total of $41.4 billion.
The offer represents a 38% premium on Twitter’s April 1 closing price.
In a note to board chairman Bret Taylor, Musk wrote that he believed in Twitter’s “potential to be the platform for free speech around the globe.” But he said changes were needed in order for it to thrive.
“Twitter has extraordinary potential. I will unlock it,” Musk wrote.
Tesla CEO Elon Musk has made a cash offer to buy Twitter, just days after declining the company’s invitation to join its board. Musk recently acquired a 9.2% stake in the company, making him the largest individual shareholder. On Thursday he issued a filing with the U.S. Securities and Exchange…
