Elon Musk offers to buy Twitter for $54.20 a share, so it can be ‘transformed as private company’
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Elon Musk, CEO of Tesla Inc attends the World Artificial Intelligence Conference in Shanghai (China) August 29, 2019.
Reuters| Reuters
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Elon Musk was willing to purchase TwitterShare the $54.20 per share and say that social media company needs to be privatized.
After closing Wednesday at $45.85 per share, Twitter shares surged 12% in premarket trades
As disclosed in a security filing, here is the message Musk sent to Twitter Chairman Bret T Taylor.
Twitter is the best platform to allow free speech worldwide. This was why I decided to invest in it. It’s a social imperative that a democracy function properly.
Since making the investment, I have realized that this company won’t thrive or fulfill its societal mandate in its current state. Twitter should be transformed to a private corporation.
Therefore, I offer to purchase 100% of Twitter at $54.20 per share cash. This is a 54% premium over what I invested in Twitter the day prior and 38% more than the day I publicly disclosed my investment. This is my last and best offer. If it’s not accepted, I will need to reconsider my position.
Twitter holds incredible potential. This is what I’m going to do.
Elon Musk
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