Elon Musk wants to buy 100% of Twitter and offers 54.2 dollars per share
Elon Musk has made the ultimate offer to buy Twitter saying that the company has extraordinary potential and that he will unlock it.
As reported by Bloomberg, Elon Musk, owner of Tesla and SpaceX, is willing to buy the social network Twitter, offering $54.2 per share. Musk’s offer values Twitter at about $43 billion.
The information comes from a form sent to the market regulator SEC, in which reference is made to Musk offering this amountwhich it represents a 54% premium against the value of January 28, 2022, a session before Elon Musk began investing in Twitter and a 38% premium over the day before the investment was publicly announced.
Musk has claimed that the cash offer is his “best and last offer”according to the SEC filing, adding that if it was not accepted he would have to reconsider his position as a shareholder. He himself has recently published a tweet confirming his offer.
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
Tesla’s CEO sent an offer letter to the company on Wednesday night, according to the filing. Affirm the following: “Since making my investment I have realized that the company will not prosper or serve this social imperative in its current form. Twitter must be transformed into a private company.”
Twitter which has issued a statement confirming that it had received the offerhas stated that his council will carefully review the proposal “to determine the course of action that you believe is in the best interest of the company and all of Twitter’s shareholders.”
Despite this, Musk it has not revealed how it intends to finance its purchase. It is simply known that he has hired the Wall Street giant Morgan Stanley as his financial adviser for the transaction.
Currently this is sued by shareholders of the social network, for illegally saving himself some $150 million by delaying the announcement of his significant stake in the company.
Musk first revealed his involvement with the social media giant on April 4. He later landed a seat on the company’s board of directors before backing out of those plans.
Tesla’s CEO has already publicly criticized the social media giant, and last month conducted a Twitter poll on whether the company respected the principles of freedom of expression. He also said that he was considering building a new social media platform.