Tesla CEO Elon Musk is ready to buy 100% of Twitter (TWTR). According to documents filed with the SEC, the Tesla CEO offers $54.20 per share (against the current rate of $45.91), or about $43 billion in total. Musk wrote in a statement his offer reflects his belief in Twitter's potential to be the "platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy."
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However, despite his initial purchase of 73,486,938 TWTR shares, which represents a 9.2% passive stake in the company, he 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."
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.
Musk also stressed that Twitter has "extraordinary potential" and with by purchasing the social network he "will unlock it." The move comes after Musk suggested reducing the cost of Twitter Blue subscriptions and allowing users to pay for the premium service in dogecoin (DOGE).
Musk earlier published a series of tweets stating the need to give each Twitter Blue subscriber an "authentication checkmark." He has also pointed out that the platform should stop advertising, as this "enhances the power of corporations to dictate policy."
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