“I made an offer.” With that message, Tesla founder, billionaire Elon Musk, has launched a proposal to buy the social network Twitter for $43 billion, according to a letter sent to the company’s board of directors published by several media.
According to the offer, which (of course) he published on his Twitter, Musk, considered the richest man in the world, has offered 54.20 dollars per share in cash, which represents a premium of 54% over the closing price on January 28, the day before he started investing in the company.
The final offer, says Elon Musk
It also represents a 38 % premium over the share price a day before his investment in the social network was publicly announced. At the pre-opening of the Wall Street market, the shares of the social network soar more than 12% this Thursday.
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he warned.
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In the letter sent to the company’s shareholders, Musk explains that Twitter needs to transform itself into a private company because, in his opinion, it can neither prosper nor serve freedom of expression in its current state.
Musk says he believes in the company’s potential to be the platform for free speech around the world. “I believe free speech is a societal imperative for a functioning democracy,” he concluded.