by Stephen Sorace
Tesla CEO Elon Musk offered to buy Twitter for $54.20 per share
Tesla CEO Elon Musk offered to buy Twitter in a deal worth more than $43 billion and take the social media company private.
Musk’s best and final offer was to pay $54.20 per share for 100% of Twitter, and said that if his offer was not accepted he’d have to reconsider his position as a shareholder, according to an SEC filing.
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Musk recently disclosed a 9.2% stake in Twitter, but he rejected an offer to join its board of directors and criticized the social media platform in tweets.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | TWITTER INC. | 45.08 | -0.77 | -1.68% |
| TSLA | TESLA INC. | 985.00 | -37.37 | -3.66% |
He wrote in the filing that he'd want to "transform" the social media platform as a private company.
Elon Musk is seen in a photo illustration. (Jim Watson/AFP via / Getty Images)
ELON MUSK FACES SHAREHOLDER LAWSUIT OVER DELAY IN DISCLOSING TWITTER STAKE
"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. "However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form."
(Thomas Trutschel/Photothek via / Getty Images)
Musk said the takeover attempt is "not a threat, it's simply not a good investment without the changes that need to be made."
Stephen Sorace
Source: https://www.foxbusiness.com/markets/elon-musk-offer-buy-twitter-take-it-private
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