Twitter confirmed that 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.”
Elon Musk said the $54.20 cash offer per share is the best deal for Twitter.
- Last Update:April 14, 2022, 6:00 PM IST
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Twitter has confirmed that Elon Musk is seriously planning to buy Twitter. In a statement to the media, Twitter said it had 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.”
Musk said that the offer of $54.20 per share in cash is the best deal for Twitter and justified it by saying that the deal at $54.20 per share in cash was “a 54% premium and 38% from the day before he started investing in Twitter.” The premium one day before the public declaration of their investment.
Musk further clarified that he will not be a silent shareholder in Twitter. “My offer is my best and final offer and if it is not accepted, I will need to reconsider my position as a shareholder.”
Twitter said in its response that “the board of directors will carefully review the proposal to determine the course of action, which it believes is in the best interests of the company and all Twitter stockholders.”
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