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Elon Musk offers to buy Twitter outright

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Elon Musk has made an offer to buy Twitter outright, stating that the company needs to be privatized to protect its future.

e has offered the company $54.20 per share, a hefty premium to the current value of the shares.

Mr Musk is currently Twitter’s largest single shareholder with 9.2 percent of the company’s shares after secretly buying up shares in recent weeks.

“I invested in Twitter because I believe in its potential to be the platform for free speech around the world, and I believe that free speech is a societal imperative for a functioning democracy,” Musk wrote in a letter Twitter chairman Bret Taylor.

“However, since making my investment, it has been clear to me that 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 purchase 100 percent of Twitter for $54.20 per share in cash, a premium of 54 percent the day before I began investing in Twitter, and a premium of 38 percent the day before I publicly invest was announced. My offer is my best and final offer and if not accepted I would have to reconsider my position as a shareholder. Twitter has extraordinary potential. I will unlock it.”

https://www.independent.ie/business/technology/elon-musk-offers-to-buy-twitter-outright-41553335.html Elon Musk offers to buy Twitter outright

Fry Electronics Team

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