Elon Musk has offered to buy Twitter (Ticker:TWTR) for $54.20-a-share in cash, according to a 13D filing. Musk, the CEO of Tesla Inc. (TSLA) recently took a ...
Elon Musk has offered to buy Twitter (Ticker:TWTR) for $54.20 a share in cash, according to a 13D filing. In a letter to the board of Twitter, Musk said this was his “best and final” offer. Elon Musk Offers to Buy Twitter for $54.20 a Share. Twitter Stock Soars.
The 50-year-old billionaire, in a regulatory filing, says there is a need to transform Twitter as a private company so it can thrive and be a platform for ...
"However, since making my investment I now realise the company will neither thrive nor serve this societal imperative in its current form. "My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder," Mr Musk said. "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," Mr Musk says in the filing.
The Twitter and Elon Musk saga is far from over as Elon Musk has made an offer to buy Twitter in an SEC filing. The billionaire has said he is willing to ...
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His takeover bid at $54.20 a share comes just weeks after he became the company's largest shareholder.
The possibility that Mr. Musk might move to buy the company outright arose this week, when Twitter announced that he would no longer join the board. When Elon Musk mulled taking Tesla private in 2018, he posted on Twitter to tell the world about it. When Twitter’s chief executive said Mr. Musk would no longer join the board, that agreement was severed, allowing Mr. Musk to act as any other shareholder. “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,” Mr. Musk said in the filing. But the price has mostly slumped since then, falling to about $33 a share last month. And those changes won’t happen without taking the company private.” And when he challenged President Vladimir V. Putin of Russia to one-on-one combat last month, he broadcast it on Twitter. It would value the company at about $43 billion. I will unlock it.” “Twitter has extraordinary potential. “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,” Mr. Musk said in the letter to Mr. Taylor sent on April 13. Mr. Musk said this was a “best and final offer,” representing a 54 percent premium over the day before he began investing in the company in late January, according to a Securities and Exchange Commission filing.
Tech entrepreneur makes offer of $54.20 a share in cash to 'unlock potential' of microblogging site.
When Musk offered to take his electric carmaker Tesla private in 2018 he offered to buy the shares he did not already own for $420 a share, saying he had “funding secured” for the deal. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. That’s not something the firm will want hanging over it.” The SEC found against him over the tweet and Musk agreed to submit his public statements about the company’s finances to vetting by its legal counsel. But let’s not forget, Elon’s view of simply voicing opinion has been seen as reckless by regulators in the past,” he said. In a letter to Bret Taylor, Twitter’s chair, Musk said the site was not thriving as a company or a tool for improving freedom of speech, and “needs to be transformed as a private company”.
Musk, 50, announced the offer in a filing with the U.S. Securities and Exchange Commission on Thursday. The billionaire, who also controls Tesla Inc., first ...
closing price and a value of about $43 billion. He has been outspoken about changes he’d like to consider imposing at the social media platform, and the company offered him a seat on the board following the announcement of his stake, which made him the largest individual shareholder. Musk, 50, announced the offer in a filing with the U.S. Securities and Exchange Commission on Thursday. The billionaire, who also controls Tesla Inc., first disclosed a stake of about 9% on April 4.