World’s Richest Man and Billionaire Elon Musk have offered to buy Twitter for $41.39 billion USD. He has offered to buy shares of Twitter at the price of $54.20/share in Cash.
The Tycoon announced his buying offer in a filing with US Securities and Exchange Commission on Thursday. According to Musk, It is his best and final offer to buy Twitter Inc., because according to Musk, Twitter as a company has amazing potential to change the world and he can unlock that potential.
Elon Musk Offered to Buy Twitter for $41.39 Billion
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
Musk said, he believes in Twitter, and “it will neither thrive nor serve societal imperative in its current form. Twitter needs to be transformed as a private company”.
“If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder.”
The microblogging site, Twitter responded by saying: “Twitter Confirms Receipt of Unsolicited, Non-Binding Proposal from Elon Musk. Twitter Inc has confirmed it has received an unsolicited, non-binding proposal from Elon Musk to acquire all of the Company’s outstanding common stock for $54.20 per share in cash. The Twitter Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders.”
(With MoneyControl inputs)