Elon Musk Makes ‘Best and Final’ $41.4 Billion Cash Offer to Take Twitter Private, Shares Surge 12%
2022.04.14 14:01
Elon Musk Makes ‘Best and Final’ $41.4 Billion Cash Offer to Take Twitter (TWTR) Private, Shares Surge 12%
SpaceX and Tesla (NASDAQ:TSLA) CEO Elon Musk has made an offer to acquire 100% of Twitter (NYSE:TWTR), according to an updated 13D filing.
Musk has offered to pay $54.20 per share in cash to acquire 100% control of the social media company. The offer, which values Twitter at $41.39 billion, represents “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 said in a letter.
He added that this is his final and best offer. If not accepted, “I would need to reconsider my position as a shareholder.”
“Twitter has extraordinary potential. I will unlock it,” he concluded.
Adam Crisafulli’s Vital Knowledge hinted that Musk may be “trying to exit his stake by making a ‘best and final’ bid that’s probably too low (at $54.20) for the TWTR board to accept.”
At the time of writing, Twitter’s stock price is up roughly 12% in pre-market Thursday.
By Senad Karaahmetovic
