Elon Musk Makes Audacious $43 Billion Offer for Twitter
-
Tesla CEO, Elon Musk has offered to buy leading microblogging platform, Twitter for $43 billion
-
The billionaire plans to pay 54.20% per share in cash, which represents a 54% premium over the closing price of the stocky on January 28
-
In a letter to the board, the Tesla boss revealed that he plans to transform Twitter into a private company and give room for free speech on the platform
The saga between Elon Musk and Twitter is far from over, and it has taken yet another shocking twist on Thursday morning. The billionaire has put in an offer to buy the social media company, in an SEC filing that was posted on his Twitter account.
The filing shows that the world’s richest man is willing to pay $54.20 per share to buy 100% of the company, in an all-cash deal. The deal which will cost $443.4 billion, will see the social media company become a privatized organization if it goes through.
In an email to the Chairman of the Twitter board, Bret Taylor, Elon 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.”
The billionaire stated that he however now believes that the company will not serve this societal imperative in its current form, and it needs to be privatized.
Musk revealed that this offer is his final one and threatened to reconsider his position as a shareholder if it is rejected.
In pre-market trading, Twitter shares are trading at $50.97 per share, 11.97% higher than yesterday’s closing price.
This shocking news comes after Elon Musk rejected an offer to join the board of the social media company, after acquiring 9.2% of its shares.
Follow Naija.fm on our social media handles Facebook, Instagram, and Twitter to keep up with trending news and entertainment gist.
