Elon Musk has offered to buy all of Twitter for around $43 billion, but the board has reportedly already stated that they’re not interested.

In an updated SEC filing, Tesla CEO Elon Musk has made his “best and final” offer to purchase literally all of Twitter from the company’s current shareholders. Offering $54.20 per share in cash, the deal is valued at around $43 billion.

According to statements made by Musk in the SEC filing for this takeover, if his offer to purchase Twitter is not accepted by the shareholders, he “would need to reconsider my position as a shareholder,” a move that would likely tank the stock of the social media giant for a period of time. 

Alongside the threat of reconsidering his position as a shareholder, Musk stated that he believes Twitter has the potential “to be the platform for free speech around the globe,” which he believes is a “societal imperative for a functioning democracy.”

Since making his initial investment into Twitter, Musk has apparently realized that “the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.” A private company that he intends to own. 

Despite offering a monumental amount of cash for the social media titan, this brash takeover attempt may already be in vain, as according to a report from The Information “Twitter’s board of directors views Elon Musk’s takeover offer as unwelcome,” so it will likely be fought every step of the way.

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