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).ย
After purchasing a 9.2% stake in Twitter, Musk became the companyโs largest shareholder.ย
In a letter to Bret Taylor, chairman of Twitter, Musk said that he can โunlockโ Twitterโs โextraordinary potentialโ and that his $54.20 per share offer was final.
โI 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,โ said Musk. ย
However, the SEC filing indicated that Musk may sell off his Twitter stock if his proposal was rejected. In a โvoice scriptโ that was included in the filing, Musk added that this option โis not a threat, [but] itโs simply not a good investment without the changes that need to be made.โย
Twitter revealed that it received โan unsolicited, non-binding proposal from Elon Musk to acquire all of the company’s outstanding common stock.โโฏย
The company stated it would be reviewing the proposition to โdetermine the course of action that it believes is in the best interest of the company and all Twitter stockholders.โย
