Elon Musk Offers To Buy Twitter In All-Cash Deal

April 14, 2022 Business, Social Media

The Associated Press reports:

Elon Musk is offering to buy Twitter, just days after the Tesla CEO said he would no longer be joining the social media company’s board of directors.

Twitter Inc. said in a regulatory filing on Thursday that Musk provided a letter to the company on Wednesday that contained a proposal to buy the remaining shares of Twitter that he doesn’t already own. Musk offered $54.20 per share of Twitter’s stock.

“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,” Musk says in the filing.

The New York Times reports:

Mr. Musk said this was a “best and final offer,” representing a 54 percent premium over the day before he began investing in the company in late January, according to a Securities and Exchange Commission filing.

If the offer is not accepted, Mr. Musk said he would “need to reconsider my position as a shareholder,” according to a letter sent to Bret Taylor, Twitter’s chair, on April 13 and enclosed in the filing. “Twitter has extraordinary potential. I will unlock it.”

CNN Business reports:



The Tesla CEO sent an offer letter to the company Wednesday night, according to the filing. “I believe that the company should be private to go through the changes that need to be made,” he said.

Musk last week declined an offer from Twitter to join the company’s board after disclosing that he’d purchased a 9.2% stake in the company.

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