Elon Musk wants to buy Twitter now. Offer to pay $ 54.20 per share

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Twitter is in a turbulent time. Elon Musk recently became Twitter’s largest shareholder, declined to join the board and offered to buy Twitter. In his filing with the Securities and Exchange Commission (SEC), Musk offered to pay $ 54.20 per share. Interestingly, the mention of the 420 is reminiscent of the infamous value of the Tesla Motor that it proposed each time the mask was released. Details are here.

Elon Musk proposes to buy Twitter

As part of the “hostile bid,” Musk makes non-binding proposals. Acquired all of the company’s outstanding common stock for approximately $ 43 billion,He”The best and last offer.“”

Filing suggests that this is a 58% premium from the closing price of common stock on January 28, 2022 and an 18% premium from yesterday’s closing price. In a letter to the SEC chairman, Musk suggests that Twitter needs to be a private company in order to thrive, which will clearly happen when Musk buys.

The letter says:I invested in Twitter. We believe that it has the potential to become a platform for free speech around the world, and we believe that free speech is a social imperative for democracy to work. But since making my investment, I have now realized that the company does not prosper or provide this social obligation in its current form. Twitter needs to transform into a private company.“”

If his offer is rejected, Musk is alleged to reconsider his position as a shareholder. Elon Musk also announced on Twitter that he had made an offer.

Twitter also confirmed that it had received the proposal and revealed that the board would consider it and make decisions that would benefit the company and its shareholders.

This is after Musk recently declined an offer to become part of the Twitter board, but still remains the largest shareholder with a 9.2% share. It’s still unclear how this suggestion will be made by Twitter, and whether Mask’s desire to get a microblogging platform to make the desired changes will be met. We will let you know the details as soon as they are available. So please look forward to it. Please let us know how you feel about this in the comments below.