Elon Musk Offers $43 Billion To Buy Twitter And Turn It Into An 'Arena For Free Speech

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Elon Musk Offers $43 Billion To Buy Twitter And Turn It Into An 'Arena For Free Speech

Elon Musk has made an offer of $43 billion in cash to take over Twitter Inc and turn it private with the aim to make it a free speech platform.


Musk, who recently became Twitter's second-largest shareholder, speaking at a TED Talk in Vancouver, said:


"I think it's very important for there to be an inclusive arena for free speech."


In a letter to the Twitter board on Wednesday, Musk made the bid of $54.20 per share, which represents a 38% premium to Twitter's April 1 close. Prior to this, his Twitter 9.1% stake was made public.


Musk, who, according to Forbes, is the richest person in the world with a fortune of $273.6 billion, turned down an offer to become part of the company's board on Saturday. Analysts believe that the move implies his takeover intentions, since a seat on the board would limit his shareholding to under 15%.


Following his TED talk, Musk implied that it would be possible to bypass Twitter's board through a hostile bid that would place the offer directly to its shareholders.


He said:


"It would be utterly indefensible not to put this offer to a shareholder vote."


A source revealed that the offer is under evaluation by Twitter, with consultation from Goldman Sachs and Wilson Sonsini Goodrich & Rosati. It has also been reported that the company is setting in place protective measures against Musk so that he is unable to raise his stake on Friday.


[Based on reporting by: Reuters]


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Thinking Humanity: Elon Musk Offers $43 Billion To Buy Twitter And Turn It Into An 'Arena For Free Speech
Elon Musk Offers $43 Billion To Buy Twitter And Turn It Into An 'Arena For Free Speech
Elon Musk has made an offer of $43 billion in cash to take over Twitter Inc and turn it private with the aim to make it a free speech platform. Musk,
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https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-lF2Dz9OFF7VpXGWNDWmfUIsu40O7LnkmrPNnt-w88EkAxTyuqeWXD0xWLlV7BruUy-x9TBiPcjaW-8ILrUzAgH9T-puZ0cluMYAe6H4n0q_ne2o568iYjye8C7jD1R-sLbtQAWq463w3gMTGZpsi8mHADjPlNoZoLBVX_ljVdi-z0ZJ6syyT04wpaw/s72-c/Elon%20Musk%20Offers%20$43%20Billion%20To%20Buy%20Twitter%20And%20Turn%20It%20Into%20An%20%27Arena%20For%20Free%20Speech.webp
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