Moments ago, Bloomberg news reported that billionaire Elon Musk has made a hostile takeover attempt to buy 100% of Twitter.
Musk said he will pay $54.20 per share, a 48% premium over Twitter’s price April 1st, the last day before his 9% stake became public, roughly a $43 billion dollar deal.
Per Bloomberg “Musk can afford it. He’s currently worth about $260 billion according to the Bloomberg Billionaire’s Index, compared with Twitter’s market valuation of about $37 billion.”
Musk said in a letter to Twitter Chairman Bret Taylor “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. 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,” Musk also said.
BREAKING: Elon Musk offers to buy Twitter for $54.20 per share, saying "Twitter has extraordinary potential. I will unlock it"https://t.co/JZisVQi2uD pic.twitter.com/Mj12CvmdFP
— BSurveillance (@bsurveillance) April 14, 2022
Did you see this one coming ?
Elon Musk offers to buy Twitter for $54.20 a share….$TWTR #Twitter
— 𝗩𝗜𝗡𝗖𝗘𝗡𝗧 𝗖. 𝗟𝝠𝗕𝗕𝗘 (@Vincentius2000) April 14, 2022
BREAKING: Elon Musk has offered to buy Twitter for $54.20 per share in cash, per SEC filing. pic.twitter.com/8I4ceaNPoc
— Alex Salvi (@alexsalvinews) April 14, 2022