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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.

Aayat AlibyAayat Ali
April 14, 2022
in Marketing
Reading Time: 2 mins read
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Elon Musk Offers To Purchase Twitter For $43 Billion

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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.” 

Source: Business Insider
Tags: BusinessMarketingTechnology
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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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