Elon Musk offers to buy 100% of Twitter in cash

Elon Musk, the tech billionaire who made waves across the world after recently becoming the largest Twitter shareholder, is offering to buy 100% of Twitter at $54.20 per share in cash in a deal that could exceed $40 billion, Bloomberg News reported Thursday morning.

According to an SEC filing submitted Wednesday evening, Musk told Twitter Chairman Bret Taylor that this was his “best and final offer.”

Musk’s letter to Taylor can be read here:

Bret Taylor

Chairman of the Board,

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.

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.

As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.

Twitter has extraordinary potential. I will unlock it.

/S/ Elon Musk

Musk accuses Twitter of censorship
Most recently, Musk had rejected an offer from the network to move into the supervisory board after buying almost ten percent of the company. Had he accepted it, it would have been impossible for him to acquire more than 14.9 percent of the shares.

The Tesla CEO's fortune is estimated at more than $250 billion. In the past he had repeatedly accused Twitter of undermining freedom of expression by blocking content arbitrarily.

Source: Junge Freiheit / Daily Wire