Tesla CEO and billionaire Elon Musk has sent a formal letter to Twitter’s Chairman of the Board Bret Taylor offering to acquire the company for $54.20 per share, or about $43 billion.
In the letter, Musk stressed the importance of free speech and how he believed Twitter should be the global “platform for free speech.”
“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,” Musk said in the letter, referring to his recent decision to become Twitter’s largest individual shareholder.
“However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form,” he said. “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,” Musk wrote. “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,” Musk concluded. “I will unlock it.”
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
