Tesla founder, Elon Musk has tabled $43 billion to outrightly buy micro-blogging site Twitter.
The billionaire tabled the offer a few days after he emerged as the largest shareholder in Twitter with a 9.2% stake.
Musk disclosed his intention to buy Twitter in a letter addressed to Bret Taylor, the Chairman of the site.
The letter, which was disclosed in a regulatory filing on Thursday, April 14, 2022, read: “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”.
“However, since making my investment, I now realise 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 buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced.
“My offer is my best and final offer, and if it is not accepted, I would need to reconsider my position as a shareholder.
“Twitter has extraordinary potential. I will unlock it.”
