Sunday, November 27, 2022
Home TECH Billionaire Elon Musk wants to buy Twitter for more than $43 billion

Billionaire Elon Musk wants to buy Twitter for more than $43 billion

Tesla CEO Elon Musk has made an all-cash offer to buy Twitter, just days after declining the company’s invitation to join its board of directors.

Musk recently acquired a 9.2% stake in the company, making him the largest individual shareholder. On Thursday he issued a presentation with the US Securities and Exchange Commission proposing a total acquisition for $54.20 per share in cash, a total of $41.4 billion.

The offer represents a 38% premium to Twitter’s April 1 closing price.

In a note to Bret Taylor, Twitter’s chairman of the board, Musk wrote that he believed in the company’s “potential to be the platform for free speech around the world.” But he said changes were needed for it to prosper.

“Twitter has extraordinary potential. I want to unlock it,” Musk wrote.

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