Elon Musk offers to buy ‘100% of Twitter’ and take the company off Wall Street

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In a document sent to the gendarme of the American Stock Exchange, Elon Musk specifies that it is about “his best offer and his final offer” and threatens, in the event of refusal, to “reexamine his position as a shareholder” within of the social network.

Tesla boss Elon Musk, who recently acquired a 9.2% stake in Twitter, has offered to buy the entire company for $54.20 a share and take the company off Wall Street. . In a document sent Wednesday to the policeman of the American Stock Exchange, Elon Musk specifies that it is about “his best offer and his final offer” and threatens, in the event of refusal, to “re-examine his position as a shareholder” at the within the social network.

Twitter valuation at $43.4 billion

Following this announcement, the action of Twitter jumped 11.34% to 51.05 dollars in electronic trading before the opening of Wall Street. Speaking in a letter to Twitter Chairman Bret Taylor, Elon Musk says he invested in the platform because of the major role it plays in favor of “free speech across the planet” which is , according to him, “a societal imperative of a functional democracy”.

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“I am offering to buy 100% of Twitter for $54.20 per share in cash, a premium of 54% from the day before my investment in Twitter began and 38% from the day before the public announcement of my investment”, details the boss-billionaire. Figures put forward by Musk would value Twitter at $43.4 billion, up from around $37 billion today.

Criticism of the social network of which he is a star

According to Forbes, Elon Musk’s personal fortune is nearly $274 billion, making him the richest man in the world. He is particularly active on Twitter, where he has some 81.6 million followers. In recent weeks, he has been critical of the social network, suggesting the addition of several features, such as an “edit” button, and questioning his subscribers about respect for freedom of expression. “Since I made my investment, I realized that the business would not thrive and serve its societal imperative in its current form,” he said.

The whimsical boss of Tesla and SpaceX was initially supposed to join the board of directors of Twitter, but the general manager of the social network Parag Agrawal announced Monday that Musk had finally given up on it.

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