Bitcoin.com News reported that Elon Musk, Tesla’s chief executive, had acquired a stake in Twitter Inc. Analysts at the time suggested it might lead to a buyout. After the purchase of a 9.2% share in Twitter Inc.
Musk stated that he would continue to push for major improvements on the social media platform. Also, the billionaire considered integrating DOGE (dogecoin) payments into Twitter to make it a payment option for Twitter Blue.
I made an offer https://t.co/VvreuPMeLu
– Elon Musk (@elonmusk April 14, 2022
In a recent SEC filing, Musk offers to buy Twitter Inc. for $41.4billion. This is ten days after the initial offer was made. Musk addressed the letter to Bret Taylor (the chairman of Twitter’s board) and stated that he believes he has the potential to unlock the social media platform’s potential.
Musk wrote that he invested in Twitter because he believed it could be the global platform for free speech. He also stated that free speech was a societal imperative to a functioning democracy. “However, I have come to realize that the company will not thrive or serve this societal imperative in its current form since I made my investment.”
The Tesla executive continued:
Twitter must be made a private company. Therefore, I offer to purchase 100% of Twitter at $54.20 per share in cash. This is a 54% premium over what I invested in Twitter the day before and 38% more than the day prior to my public announcement. If my offer is rejected, it will be my final and best offer. I may have to reevaluate my position as shareholder. Twitter has incredible potential. It is my goal to unlock it.
Musk’s Offer to Purchase Twitter is His Final and Best Offer
Musk also left a voice message to the company about possible acquisition of Twitter. Musk said that he had spent many days contemplating the matter and decided that he wanted to purchase Twitter and make it private. Musk also inquired if Bret Taylor was available to chat and stated that the offer was his Best and Final.
Musk stated, “I’m not playing the back-and forth game.” Musk said, “I have gone straight to the finish.” It is a very expensive deal and your shareholders will love it. If the deal fails, as I have no confidence in management and don’t believe I can bring about the necessary changes in the public markets,
I would have to reconsider my position in shareholder. This isn’t a threat. It’s just not a good investment. These changes will not happen without the company being taken private. After you receive the letter, my advisors and I will be available to answer any questions.
Democrats didn’t like Musk’s proposal at all. Some even considered it a threat. Left-leaning Greg Sargent stated that Musk’s offer was not what he wanted. The Democrat Lindsey Boylan remarked that it alarms him how few people realize that Elon Musk is paid by the very government he degrades and undermines.