Elon Musk on Thursday made an offer to buy 100% of Twitter Inc for $54.20 per share valuing the social media company at $43 billion.
The world’s richest man said his offer was the “best and final” adding that Twitter has extraordinary potential and he is the best suited person to unlock it.
Elon wrote a letter to Twitter’s board saying that he believes Twitter “will neither thrive nor serve [its free speech] societal imperative in its current form. Twitter needs to be transformed as a private company”. He warned that he doesn’t have confidence in the management and if the deal doesn’t go through, he will need to reconsider his position as a shareholder.
Elon Musk has hired Morgan Stanley as his adviser for the takeover.
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