Elon Musk bids more than $43 billion to buy Twitter
April 14, 2022
0
Elon Musk has offered to buy Twitter for $54.2 per share, according to SEC documents. The billionaire described the proposal as “the best and last”. “I’m proposing to
Elon Musk has offered to buy Twitter for $54.2 per share, according to SEC documents. The billionaire described the proposal as “the best and last”.
“I’m proposing to buy 100% of the Twitter shares at $54.2 per share, which is 54% more than the day before I started investing in the company and 38% more than the day before my additions were made public. My offer is the best and final, if not accepted, my position as a shareholder. I will have to reconsider,” he said.
According to CNBC, Twitter has issued 800.64 million shares worth over $43 billion if approved.
As part of the takeover, Musk hired investment bank Morgan Stanley as a financial advisor.
Update:
Justin Sun has decided to leave Musk’s offer behind – the founder of Tron said he’s ready to buy Twitter at $60 per share.
i believe @Twitter It’s far from unlocking its full potential, so I’m offering $60 per share to make the platform private. However, we fully support Turkey’s reform initiatives. @elonmusk and I would love to see Twitter being crypto-native and Web3-friendly.
“I think Twitter is far from reaching its full potential. That’s why I’m offering $60 per share to make the platform private. But we fully support Musk’s reform initiatives and want the company to be cryptonative and Web3 friendly.”
Against the background of the Tesla president’s statement, Twitter shares in the front market (on the New York Stock Exchange) rose 11%. At the time of writing, the stock is trading around $51.
NYSE TWTR hourly chart. Data: Trade Outlook.
In April 2022, Musk became Twitter’s largest shareholder, buying 9.2% of the company’s securities for $2.89 billion. Earlier, the billionaire criticized the social network’s free speech policy.
Recall that the head of Tesla offered to reduce the cost of a Twitter Blue subscription and offer users the opportunity to pay for a premium service in Dogecoin (DOGE).
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
