Elon Musk has made a “best and final” offer to buy Twitter, saying the company has extraordinary potential and he will unlock it.
The
world's richest man will pay $54.20 per share in cash, representing a 54
percent premium over the January 28. closing price and a value of about $43
billion. The social media company's shares soared 18 percent.
Musk,
50, announced the offer in a filing with the US Securities and Exchange
Commission on Thursday. The billionaire, who also controls Tesla, first
disclosed a stake of about 9 percent on April 4.
The executive is one of Twitter's most-watched firebrands,
often tweeting out memes and taunts to @elonmusk's more than 80 million
followers.
He has been outspoken about changes he'd like to consider
imposing at the social media platform, and the company offered him a seat on
the board following the announcement of his stake, which made him the largest
individual shareholder.
After his stake became public, Musk immediately began
appealing to fellow users about prospective moves, from turning Twitter's San
Francisco headquarters into a homeless shelter and adding an edit button for
tweets to granting automatic verification marks to premium users.
One tweet suggested Twitter might be dying, given that
several celebrities with high numbers of followers rarely tweet.
Musk can afford it. He's currently worth about $260 billion
according to the Bloomberg Billionaire's Index, compared with Twitter's market
valuation of about $37 billion.
0 comments:
Post a Comment