$41 Billion is currently on the table. This offer comes days after Musk refused a seat on the social media company’s board.
He is currently offering $54.20 per share in cash, a 38% premium over the 1 April closing price, the last trading day before the business mogul’s more than 9% stake in the company was made public, as per“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,” Musk said in a letter to Twitter Chairman Bret Taylor.
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk said. Earlier this week, Musk passed on a plan to join Twitter’s board, just as his tenure was about to begin. According to experts, taking the board seat would have prevented Musk from a possible takeover of the company.
Musk and Twitter have had somewhat of a volatile relationship, with this offer being the latest twist in a seemingly never-ending saga. The billionaire is one of the platform’s most closely watched users, often tweeting memes and taunts to his 80 million followers, as perHowever, it’s his ideas around what he would do should he acquire the social media platform that has truly held users’ attention.
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