$43 Billion for Twitter

Billionaire businessman and entrepreneurial genius, Elon Musk, has been making headlines recently with his latest business venture. 

He became the largest shareholder in the social media giant Twitter last week. Causing the share price to jump nearly 27% when news of the announcement was made public.
He declined to join the Twitter board, due it limiting his ability to acquire a stake greater than 15% in the company.

Upon news of Musk not joining the board, speculation was rife that he may in fact acquire a larger stake in the company. Those rumours turned out to be true.

Musk has offered to acquire 100% of the outstanding shares for a massive price tag of $41 billion. Which derives from an offered price of $54.20 per share.

As per reports, the Tesla CEO, told Bret Taylor, the 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 percent of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38 percent 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.’

This signals Musk has intentions to transform the platform, that has become notorious for its politically motivated and unexplained censorship criteria, into a true platform allowing free speech to thrive.

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