Elon Musk declined a Twitter board seat after he bought 9.2% of the company.
The reason many think is that the deal only allowed him to own 14.9% of Twitter and he wanted more.
Looks like Elon Musk isn’t playing around.
He has officially made an offer to buy Twitter and take Twitter private.
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
Elon Musk has made a “best and final†offer to buy Twitter Inc., saying the company has extraordinary potential and he is the person to unlock it.
The world’s richest person will offer $54.20 per share in cash, representing a 54% premium over the Jan. 28 closing price and a valuation of about $43 billion. The social media company’s shares soared 18% in pre-market trading.
Musk, 50, announced the offer in a filing with the U.S. Securities and Exchange Commission on Thursday, after turning down a potential board seat at the company. The billionaire, who also controls Tesla Inc., first disclosed a stake of about 9% on April 4. Tesla shares fell about 1.5% in pre-market trading on the news
Twitter said that its board would review the proposal and any response would be in the best interests of “all Twitter stockholders.â€
More:
🚨Wow wow wow from Elon Musk🚨
“I have moved straight to the endâ€
“I don’t have confidence in managementâ€
“Nor do I believe I can drive the necessary change in the public marketâ€
“I would need to reconsider my position as a sha…
— See more on GETTR https://t.co/oLZ5q63W31 pic.twitter.com/ky1ZVpYqsY— Jason Miller (@JasonMillerinDC) April 14, 2022
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