The eccentric billionaire describes it as a ‘best and final’ bid to acquire the social media platform. His bid is 54% higher than Twitter’s Jan. 28 closing...
In a letter to Twitter’s board, Musk said he believes Twitter “will neither thrive nor serve [its free speech] societal imperative in its current form. Twitter needs to be transformed as a private company”
Musk informed Twitter’s board over the previous weekend that he thought the company should be taken private, according to today’s statement. “This becomes a hostile takeover offer which is going to cost a serious amount of cash,” said Neil Campling, head of TMT research at Mirabaud Equity Research. “He will have to sell a decent piece of Tesla stock to fund it, or a massive loan against it.”
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