Elon Musk offers to ‘buy out’ Twitter for $43 billion
Bloomberg recently reported that billionaire Elon Musk has offered to buy back 100% of Twitter’s shares, at $54.2 per share, to fully own this famous social networking site.
The Tesla CEO thinks that Twitter has extraordinary potential and he will try to unlock it. In a letter to the Twitter Board of Directors, Musk said that Twitter “will not be able to thrive and serve the right to free speech if it maintains its current model.” Therefore, this social networking site needs to be maintained. converted into a private company, under the hands of Elon Musk.Morgan Stanley was subsequently selected as the consulting bank for the acquisition.
With an offer that Musk calls “the best and the last”, the richest person on the planet will be able to spend up to $43 billion to complete the deal. The figure Musk suggested is even about 18% higher than the current price of Twitter stock.
The above information has just been reported by Elon Musk to the US Securities and Exchange Commission (SEC), just 10 days after the CEO of electric car company Tesla revealed that he owns more than 9% of Twitter shares, and is the largest shareholder of the company. This social network, however, adopts the form 13G. This means that stockholders do not intend to control or influence the operations of the company.
Previously, Elon Musk was invited to the Twitter board, but this billionaire turned down the offer.
According to: Bloomberg
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