[Dismas]

Musk purchased 9.2% of Twitter and now he's made an offer to buy it entirely. He was initially invited to join their board, with the stipulation he can't purchase more shares.

The Twitter and Elon Musk saga is far from over — Musk has made an offer to buy Twitter, a filing with the U.S. Securities and Exchange Commission showed.

The billionaire has said he is willing to pay $54.20 per share to buy 100% of the company. It would be an all-cash offer that values the social network at $43.4 billion.

“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,” Elon Musk wrote in an email to Bret Taylor, Twitter’s chairman of the board (and Salesforce co-chief executive). The email was reproduced in today’s SEC filing. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”

“As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he added.

Read More: https://techcrunch.com/2022/04/14/elon-m...3-billion/