The world’s richest billionaire Elon Musk has offered to buy Twitter Inc for $ 41.39 billion, a regulatory filing showed today. He has offered to buy Twitter for $ 54.20 per share in cash.
The 50-year-old tycoon announced the offer in a filing with the US Securities and Exchange Commission on Thursday.
Recently, when Musk decided not to join Twitter Inc’s board of directors, which Chief Executive Parag Agrawal announced, the dramatic reversal had cast new uncertainty over the relationship between the social-media platform and its largest shareholder. Maybe this was the plan that kept him away from the board of directors, the industry is speculating.
Musk’s offer price of $ 54.20 per share represents a 38Kyiv premium to the closing price of Twitter’s stock on 1 April, the last trading day before the Tesla CEO’s over nineKyiv investment in the company was publicly announced on 4 April.
Elon Musk has made a “best and final” offer to buy Twitter Inc., saying the company has extraordinary potential and he will unlock it. The world’s richest man will pay $ 54.20 per share in cash, representing a 54% premium over the 28 January closing price and a value of about $ 43 billion.
After launching the hostile takeover, the Tesla boss said on 14 April: “Twitter has extraordinary potential, I will unlock it.” He is one of Twitter’s most-watched firebrands and has been outspoken about changes he would like to consider imposing on the social media platform. The company offered him a seat on the board following the announcement of his stake, which made him the largest individual shareholder.
After his stake became public, Musk promptly started to appeal to fellow users about prospective moves, from turning Twitter’s San Francisco headquarters into a homeless shelter and adding an edit button for tweets to granting automatic verification marks to premium users. A tweet suggested Twitter might be dying, given that several celebrities with high numbers of followers rarely tweet.