Elon Musk wants to buy Twitter, offered 43 billion dollars

Elon Musk wants to buy Twitter, offered 43 billion dollars

Elon Musk wants to buy Twitter

Elon Musk has filed a request with the United States Securities and Exchange Commission (SEC) regarding his offer to buy Twitter for $ 43 billion. The motivation behind Musk's offer would be a desire to promote free speech. Should the acquisition be successful, the US multi-billionaire plans to make the company private.

Musk would have offered just over $ 54 a share in cash, a premium equal to about 20% of the current price. of opening. Shares of Twitter, as a result, jumped 18% as the news began to circulate. Musk would also have also announced that, in case of refusal, he will abandon all his current positions within the company that controls the social network.

Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here. pic.twitter.com/lfrXACavvk

- Parag Agrawal (@paraga) April 11, 2022

Those who have followed the latest events around Twitter will not be surprised by this news. Through a tweet currently set high on his profile, the company's CEO Parag Agrawal made known Musk's decision not to participate in the company's board of directors, for unspecified reasons but in any case for the "good of the company. “, As stated in the post itself.| ); }
It was also speculated on the possible background check that the entrepreneur would have to undergo before the appointment, but now, in light of what can be seen on the SEC website, the question seems clearer about the intentions of Tesla's patron.

Billionaire Elon Musk Wants 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 of directors.

Musk recently acquired a 9.2% stake in the company, making him the largest individual shareholder. On Thursday he issued ​​a filing with the US 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 Bret Taylor, chair of Twitter's board, Musk wrote that he believed in the company'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.

The tech billionaire said the offer is his “best and final” and that if it is not accepted, he would reconsider his position as a shareholder.

Since becoming a major shareholder, Musk has teased product changes and welcomed responses from members of the public on what features they’d like to see, such as an “edit button.”

Twitter’s initial announcement of his 9.2% stake said that he would join the company’s board “pending a background check and formal acceptance.” But Musk declined the offer.