Elon Musk has made an offer to buy Twitter

Elon Musk has said he would pay $54.20 a share for Twitter, valuing it at about $40bn. Recently it emerged that he was Twitter’s biggest shareholder after he built up a large stake in the firm. He said that if his offer was not accepted “I would need to reconsider my position as a shareholder“.

His full statement says :-

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 realize 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.

I made an offer https://t.co/VvreuPMeLu

— Elon Musk (@elonmusk) April 14, 2022