Musk Offers to Buy Twitter for $41B

Elon Musk has offered to buy Twitter for about 41 billion USD and said that the platform needs to go private to thrive and serve free speech, days after rejecting a seat on Twitter’s board.

Musk offered to buy 100% of Twitter for 54.20 USD per share, a 54% premium over the day he began investing in Twitter and a 38% premium before he publicly announced his investment.

“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy…Twitter has extraordinary potential. I will unlock it,” Musk wrote in a letter sent to Twitter Chairman Bret Taylor on April 13.

Musk also said that Twitter needs to be transformed into a private company and that the bid would be his best and final offer. 

Musk said that if his offer will be rejected, he would reconsider his position as a shareholder.

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