in World News BREAKING: Elon Musk Offers To Buy Twitter In Deal Worth More Than $40B
By Tim Meads
Elon Musk, the tech billionaire who made waves across the world after recently becoming the largest Twitter shareholder, is offering to buy 100% of Twitter at $54.20 per share in cash in a deal that could exceed $40 billion, Bloomberg News reported Thursday morning:
Elon Musk has offered to buy Twitter for $54.20 per share in cash, according to an updated 13D filing, Bloomberg News reports.
Musk offered to “acquire all of the outstanding Common Stock of the Issuer not owned by the Reporting Person for all cash consideration valuing the Common Stock at $54.20 per share.”
According to an SEC filing submitted Wednesday evening, Musk told Twitter Chairman Bret Taylor that this was his “best and final offer.”
Musk’s letter to Taylor can be read here:
Bret Taylor
Chairman of the Board,
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.
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.