Elon Musk made a proposal to buy the remaining shares of Twitter that he doesn't already own, offering $54.20 per share of the company's stock.
Twitter Inc. said in a regulatory filing on Thursday that Musk,, has proposed buying the remaining shares of Twitter that he doesn’t already own at $54.20 per share, an offer worth more than $43 billion.
. "However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company."and will decide whether it is in the best interests of shareholders to accept or continue to operate as a publicly-traded company.Musk revealed in regulatory filings over recent weeks that he’d been buying shares in almost daily batches starting Jan. 31, ending up with a stake of about 9%.
He didn’t explain why, but the decision coincided with a barrage of now-deleted tweets from Musk proposing major changes to the company, such as dropping ads — its chief source of revenue — and transforming its San Francisco headquarters into a homeless shelter.
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