Elon Musk Offers To Purchase Twitter For $43 Billion

In a letter to Bret Taylor, chairman of Twitter, Musk said that he can “unlock” Twitter’s “extraordinary potential” and that his $54.20 per share offer was final.

The Elon Musk and Twitter saga continues, with the Tesla CEO now offering to purchase the social media platform for $43 billion according to a filing with the US Securities and Exchange Commission (SEC).

After purchasing a 9.2% stake in Twitter, Musk became the company’s largest shareholder.

In a letter to Bret Taylor, chairman of Twitter, Musk said that he can “unlock” Twitter’s “extraordinary potential” and that his $54.20 per share offer was final.

“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,” said Musk.

However, the SEC filing indicated that Musk may sell off his Twitter stock if his proposal was rejected. In a “voice script” that was included in the filing, Musk added that this option “is not a threat, [but] it’s simply not a good investment without the changes that need to be made.”

Twitter revealed that it received “an unsolicited, non-binding proposal from Elon Musk to acquire all of the company’s outstanding common stock.” 

The company stated it would be reviewing the proposition to “determine the course of action that it believes is in the best interest of the company and all Twitter stockholders.”