Musk proposes to buy Twitter: The company has huge potential and must be privatized
On the afternoon of April 14th, Tesla CEO Elon Musk offered $54.2 per share in a document submitted to the US SEC (Securities and Exchange Commission) to acquire Twitter in cash.
Musk only became the company’s single largest shareholder earlier this month by buying a 9.1% stake in Twitter. But he then declined to join the board.
Musk wrote in the filing that Twitter has great potential, but the current model will not be able to maintain prosperity and social responsibility, and the company must be private.
He believes that the above offer is the best figure he can give, and if it is not accepted, the company shares he holds will also be reconsidered.
After the news was announced, Twitter’s stock price rose sharply before the market, the latest at $45.8, with a market value of $36.632 billion. In other words, according to Musk’s asking price, the cash for the acquisition is about 41.39 billion US dollars (about 263.6 billion yuan ).
Thomas Williams writes related to the Business and Healthcare Category. He manages to cover anything thrown at him owing to his natural inclination towards Business and health. Thomas is our freelance contributor. Thomas is responsible for covering developments in finance and health categories topics.
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