Tesla CEO Elon Musk has made an offer to Twitter’s board of directors: he wants to buy the company for $54.20 per share and turn Twitter into a private company. The amount of the transaction should be about 43 billion dollars.
Shares of Twitter jumped 12% in premarket trading after closing Wednesday at $45.85 a share. Below is the letter Musk sent to Twitter Chairman Bret Taylor:
I have invested in Twitter because I believe in its potential to be a platform for free speech around the world, and I believe that free speech is a public imperative for a functioning democracy. However, after I have invested my funds, I understand that the company will neither prosper nor serve this public imperative in its current form. Twitter needs to be turned into a private company.
As a result, I am offering to buy 100% of Twitter shares at $54.20 per share in cash, at a 54% premium over the day before I started investing in Twitter, and at a 38% premium over the day before my public announcement. investments. This is my best and final offer, and if it is not accepted, I will have to reconsider my position as a shareholder.
Twitter has exceptional potential. I will unlock it.
Elon Musk
_large_large.jpg "Elon Musk wants to buy 100% of Twitter shares in cash at a big markup")
Last week, Elon Musk bought a 9.2% stake in Twitter, after which he became the company’s largest shareholder. He was supposed to become a member of the board of directors on Saturday, April 9, but on the morning of the same day, Musk announced that he would not be a member of the board of directors. After that, Musk decided to turn the headquarters of Twitter into a homeless shelter and asked his readers what they thought about this.
Yesterday Dmitry Rogzin announced that Elon Musk will become the owner of the leading media.
Twitter shares are up 6% this year and 18.5% since the beginning of the month.
Source: ixbt
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
