Elon Musk, who is currently the largest stakeholder in Twitter, wants to be the sole stakeholder in the company. Tesla’s CEO has now offered to acquire the micro-blogging site and offer a price of $54.20 per share against the company’s current $45.85 share price. Twitter has said it has “received an unsolicited, non-binding offer from Elon Musk to acquire all of the Company’s outstanding common stock for $54.20 per share in cash.”
In his proposal, musk has said that it will no longer be a mere silent shareholder in Twitter. “My offer is my best and final offer and if it is not accepted, I will be required to reconsider my position as a shareholder,” he said in a filing with the US Securities and Exchange Commission filing. In his notes, Musk notes that he is not playing a back and forth game, and wants the deal to close soon. The filing shows Musk’s note to Twitter’s board, where he again expressed interest in taking the company private. Here are five points that Musk made in his offer to buy Twitter in the cash acquisition of his favorite social media platform.
Read also: This is what Twitter has to say about Elon Musk’s cash offer to buy the company
1. “I’m not playing a back-and-forth game.”
2. “I’ve gone straight to the end.”
3. “It’s a high price and your shareholders will love it.”
4. “If the deal does not work, given that I do not have confidence in management nor do I believe I can make the necessary changes in the public market, I will need to reconsider my position as a shareholder “
5. “It’s not a risk, it’s just not a good investment without the changes that need to be made. And those changes won’t happen without taking the company private.”
Read also: Read Elon Musk’s Official ‘Offer Letter’ to Buy Twitter for $43 Billion in Cash
This clearly indicates that Musk wants to take Twitter private. At one point, he even stated that he “does not believe in management” nor does he “believe that he can bring about the necessary change in the public market.” He says that if this offer is rejected, the SpaceX founder will have to reconsider his current stake in the company. He further clarified that this is not a threat, but a sound investment that will appeal to Twitter shareholders.
Read also: Elon Musk doesn’t have ‘trust in management’: Reasons why Tesla boss wants to buy Twitter,
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