Elon Musk has made a $43 billion offer to buy Twitter outright.
Elon Musk has proposed to buy Twitter completely for $43 billion in an all-cash deal. has proposed to buy Twitter completely for $43 billion in an all-cash deal.
Days after Elon Musk, the co-founder and CEO of Tesla, announced that he would not be joining the Twitter board of directors, it has now been claimed that Musk has offered to acquire the entire social media platform. According to various sources, Tesla CEO Elon Musk has made an offer to buy Twitter for $54.20 per share in cash. This equates to a total of $43 billion for the corporation as a whole. The records were filed with the Securities and Exchange Commission on Wednesday, according to the reports.
"I'm not going to play the back-and-forth game." I've skipped ahead to the end. According to the SEC report Musk tweeted, "that's a high price, and your shareholders will love it." "If the deal doesn't work, I'll have to reevaluate my position as a shareholder," he continued, "since I don't have faith in management and don't believe I can make the necessary transformation in the public market."
Musk, on the other hand, has yet to clarify how he intends to compensate Twitter. It's possible that he has investment partners or that he'll use his Tesla stock, which is now down somewhat.
I made an offer https://t.co/VvreuPMeLu— Elon Musk (@elonmusk) April 14, 2022
Why is this a Good Deal for Twitter Investors?
Because he's providing an 18.2 percent premium over where Twitter shares ended trading on Wednesday, the Tesla CEO believes it's a good bargain for Twitter shareholders. He's also said to be giving a 38 percent premium above where the stock traded before he declared his ownership involvement.
This announcement comes only days after Twitter's current (and relatively new) CEO, Parag Agarwal, revealed that Musk will not be joining the company's board of directors.
"We were both enthusiastic to collaborate and aware of the dangers." We also believed that Elon's role as a business fiduciary, in which he, like all board members, is obligated to act in the company's and all of our shareholders' best interests, was the best way forward. Agarwal stated, "The board offered him a seat." Musk's appointment to the board was set to take effect on April 9, but the billionaire investor said that he would no longer be joining the board that same morning, according to the Twitter CEO.
Musk is slamming Twitter on a number of fronts.
Musk has recently chastised Twitter and has been a potential danger to the board of directors since acquiring a 9.2 percent stake in the firm. He allegedly met with Twitter several times to discuss the company's algorithms and whether they should be open-sourced. On March 24, Musk commented, "I'm concerned about de facto bias in "the Twitter algorithm" having a significant impact on public dialogue." Following that, a poll was held to determine whether Twitter should be open source or not.
Tesla's CEO also appears to have a problem with a free expression on Twitter. "A functional democracy requires free expression." Do you think Twitter follows this idea to the letter?" he asked, along with a poll. He also tweeted that he is seriously considering developing a new open-source platform that favors free speech.
But the problems don't stop there. Musk has chastised Twitter for devoting engineering efforts to integrating NFTs rather than, for example, fixing other website faults.
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