Famous tech entrepreneur Elon Musk recently 9.2% from Twitter had bought shares. Now, he has offered to buy Twitter with a figure that will shock everyone.
Musk in cash per share $54.20 offered, a premium of about 20 percent over today’s opening price. After this offer by Elon Musk, an 18 percent increase was observed in Twitter’s shares. Musk has hinted that he may drop some or all of the current offer if the offer is turned down.
Musk, “100 percent of Twitter for $54.20 per share in cash, percent for the day before he started investing in Twitter. 54 premiums and percent for the day before my investment was made public. 38 premiums I offer to buy it in return,” he said.
Elon Musk made the following statement after his offer; “Since I made my investment, I now understand that the company as it stands now will evolve and serve this societal imperative and freedom of expression,” he said. “Twitter needs to be transformed as a private company. Twitter has tremendous potential. I will unlock it.” said.
Twitter confirmed it had received Musk’s offer, and said in a press release, “The Board of Directors will carefully review the proposal to determine the course of action it believes is in the best interest of the Company and all Twitter shareholders.”
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