Tesla founder Elon Musk has offered to buy the 100% stakes in Twitter for $54.20 share days after he declined to join the company’s board.
Musk said in the latest SEC filing, “I am offering to buy 100% of Twitter for $54.20 per share in cash, 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 that he invested in Twitter as he believed in its ‘potential to be the platform for free speech around the globe.’ I believe free speech is a societal imperative for a functioning democracy,” he added.
Musk, however, made it clear that the offer made by him was the ‘best and final’, adding that he would be forced to reconsider his position as a stakeholder in Twitter if his offer was not accepted.
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a stakeholder,” he said.
Musk said that Twitter had ‘extraordinary potential’ and he will ‘unlock it.’
The billionaire businessman took to Twitter to write, “I made an offer.”
Musk was recently in the news after Twitter CEO Parag Agrawal announced that the Tesla founder would not be joining the company’s board as previously annou8nced by the social media giant.