The founder of Tesla and SpaceX, considered the richest man in the world, he became the first shareholder of the firm_ with 9%_ just 10 days ago and now he is going for more.
In a document transmitted Wednesday to the US stock market supervisory authority, Musk He specifies that it is “his best offer and his last offer”, and threatens, in case of rejection, with “re-examining his position as a shareholder” within the social network. This morning through Twitter the businessman confirmed it: “I made an offer” wrote and by presenting a link to the sent document, he whitewashed his intention to acquire 100% of the birdie’s social network.
“I invested in Twitter because I believe in the potential to be the platform for freedom of expression around the world. and I believe that freedom of expression is a social imperative for a functioning democracy. However, since making my investment I have realized that the company will not prosper or serve this social imperative in its current form. Twitter needs to transform into an unlisted company“, says the letter sent by Musk to Bret Taylor, president of Twitter.
“However, since I made this investment, I realized that the company would not prosper and would not serve its social imperative in its current form,” he estimates, proposing to delist Twitter.
“I propose to buy 100% of Twitter at the price of $54.20 in cash, that is, a premium of 54% compared to the day before the start of my investment in Twitter and 38% compared to the day before the public announcement of my investment” details Elon Musk.
The figures advanced by Musk they would value Twitter at 43.4 billion dollars, against the current 37 billion.
As a result of this episode, Twitter shares shot up 11.34% to $51.05 in electronic trading leading up to the Wall Street open
“Twitter has extraordinary potential. I will unlock it,” Musk said in the document. Days ago from his own account he had wondered if the social network “was dying” due to the little activity that artists and referents had on their profiles. He also suggested removing ads, Twitter’s main source of revenue.
Musk has amassed more than 80 million followers since joining the website in 2009.
Twitter will evaluate
Twitter said Thursday that it would “carefully examine” Tesla Chairman Elon Musk’s offer to buy the entire company and remove it from Wall Street.
The social network indicated in a statement that it received “the unsolicited and non-binding offer from Elon Musk” and that its board of directors will “carefully examine it to determine the course of action that it believes will best serve the interests of the company and of all Twitter shareholders.
With information from AFP
