Elon Musk on Thursday made an offer to buy 100% of Twitter Inc for $54.20 per share valuing the social media company at $43 billion.
The world’s richest man said his offer was the “best and final” adding that Twitter has extraordinary potential and he is the best suited person to unlock it.
Elon wrote a letter to Twitter’s board saying that he believes Twitter “will neither thrive nor serve [its free speech] societal imperative in its current form. Twitter needs to be transformed as a private company”. He warned that he doesn’t have confidence in the management and if the deal doesn’t go through, he will need to reconsider his position as a shareholder.
Elon Musk says that he is not sure that he will be able to acquire Twitter though he could technically afford it.
“The intent is to retain as many shareholders as is allowed by law in a private company.” @elonmusk pic.twitter.com/P7kaxddaZg
— Kenyan Wallstreet (@kenyanwalstreet) April 14, 2022
Elon Musk has hired Morgan Stanley as his adviser for the takeover.
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