In a shocking turn-of-events, billionaire tech mogul Elon Musk has reportedly kicked off a hostile takeover of microblogging platform Twitter by making an unsolicited ‘best and final offer’ of $43 billion. In a typical Elon Musk fashion, the Tesla CEO took to the microblogging platform wrote a brief tweet, I made an offer”, with a link to a US Securities and Exchange Commission (SEC) filing. The tech mogul has offered to buy Twitter for $41.39 billion at $54.20 per share, in cash.

“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.  However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” read Musk’s interaction with Twitter chairman Bret Taylor in the SEC filing.

Musk’s unsolicited offer comes just weeks after he bought 9.2% stake in Twitter and became the largest individual shareholder of the company.

Contents hide
1. The Facts of the Matter
2. “I made an offer”: Elon Musk Shocks Netizens, Again!
3. Musk Had Earlier Asked Netizens About Twitter’s Future
4. Twitter Won’t “Thrive” In Current Form
5. “This is not a threat..”: Elon Musk, After Hostile Takeover
6. Where it All Started

The Facts of the Matter

One can expect few things to happen without fail every day. For instance, the sun will rise in the east and set in the west every day. For instance, the left and right side of ideologies will lock horns every day. For instance, billionaire tech mogul and free-speech advocate Elon Musk will be part of the news.

Also Read: Elon Musk will not be joining the Twitter board: Twitter CEO Parag Agrawal Explains Why

“I made an offer”: Elon Musk Shocks Netizens, Again!

Following the suit, Mr. Musk is again making the buzz, this time for kicking off a hostile takeover of microblogging platform Twitter. Earlier on April 14, he took to Twitter with a brief tweet that read – “I made an offer”.

Within the tweet, Musk attached a link to the Security and Exchange commission filing in which he offered to buy Twitter for $41.39 billion at $54.20 per share, in cash.

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Musk Had Earlier Asked Netizens About Twitter’s Future

For those who maybe living under the stone, Elon Musk is a firebrand of Twitter, often making controversial, bizarre and hilarious comments on Twitter. Recently, the 50-year-old entrepreneur has been making tweets wherein he’s been asking suggestions from netizens regarding the future of Twitter.

This includes asking netizens whether they want a tweet button, asking them whether Twitter is adhering to free speech principals, and whether Twitter’s algorithm should be open source.

Twitter Won’t “Thrive” In Current Form

In the SEC filing regarding the buying out of Twitter, Musk was quoted saying, “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.”

“However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” the filing further quoted him saying.

“This is not a threat..”: Elon Musk, After Hostile Takeover

In a voice script, Musk was quoted saying that the offer was his “best and final” one. He added that due to the high price of shares, the company’s shareholders would love the deal.

“This is not a threat, it’s simply not a good investment without the changes that need to be made. And those changes won’t happen without taking the company private. My advisors and my team are available after you get the letter to answer any questions”, Musk’s voice-script read in the SEC filing.

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Where it All Started

The development comes just a week after Elon Musk bought 9.2% of Twitter for $3 billion, becoming the largest individual shareholder of the company. The deal was followed by reports of Musk joining Twitter’s board. However, later Twitter CEO Parag Agrawal announced that Musk “declined” the seat which was “for the company’s best”.

 

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