Elon Musk offers to buy Twitter for $43 billion
CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening party on April 7, 2022 in Austin, Texas. - Tesla welcomed throngs of electric car lovers to Texas on April 7 for a huge party inaugurating a "gigafactory" the size of 100 professional soccer fields. telling the SEC
in a filing that the deal would be good for free speech."I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," he wrote. If the deal goes through, Musk plans to take the company private.
Musk offered $54.20 per share in cash , a premium of about 20 percent over today's opening price. Twitter's shares shot up 18 percent on the news. Musk implied that if the offer is rejected, he may dump some or all of his current position. "I am offering to buy 100 percent of Twitter for $54.20 per share in cash, a 54 percent premium over the day before I began investing in Twitter and a 38 percent premium over the day before my investment was publicly announced," Musk said in the filing."My offer is my best and final offer."In a separate text noted in the filing, which may have included Twitter Chairman Brett Taylor, Musk put things bluntly."I am not playing the back-and forth game," he wrote.
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