Elon Musk has offered to buy Twitter almost days after he declined a seat on the company’s board. According to a Reuters report, Musk has made his “best and final” offer to Twitter, as part of which he will pay $54.20 per share of the company in cash, which is approximately $41 billion.
“Since making my investment, I now realize that the company will neither thrive nor meet this social imperative in its present form. Twitter needs to be transformed into a private company,” Musk wrote in a letter to Twitter President Brett Taylor.
“My offer is my best and final offer and if it is not accepted, I will need to reconsider my position as a shareholder,” he said.
Elon Musk becomes Twitter’s largest shareholder
The development came soon after Musk revealed that he had acquired a 9.2 percent stake in the social media platform through a regulatory filing. Shortly after, he was offered a seat on Twitter’s board. “I am excited to share that we are appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it has become clear to us that he will be of great importance to our board, Twitter CEO Parag Agarwal wrote in a tweet.
“I am really happy that Elon is joining the Twitter board! He cares deeply about our world and the role Twitter plays in it,” Twitter founder Jack Dorsey wrote in a tweet reacting to the development.
Elon Musk declined a seat on Twitter’s board
A week later, Twitter’s CEO announced that Musk had decided not to join Twitter’s board. “Elon’s appointment to the board was to officially take effect from 4/9, but Elon shared the same morning that he would no longer be joining the board. I believe it is for the best… Elon is our greatest are shareholders and we will be open to their inputs,” Agarwal wrote in a post on Twitter, explaining the decision.
Elon Musk wants to buy Twitter, here’s how much he’s willing to spend First appeared on BGR India.