THE NEW YORK TIMES: Elon Musk has offered to buy Twitter for $54.20 a share, just weeks after he became the social media company’s largest shareholder.
Mr. Musk said this was a “best and final offer,” representing a 54 percent premium over the day before he began investing in the company in late January, according to a Securities and Exchange Commission filing. It would value the company at about $43 billion.
If the offer is not accepted, Mr. Musk said he would “need to reconsider my position as a shareholder,” according to a letter sent to Bret Taylor, Twitter’s chair, on April 13 and enclosed in the filing. “Twitter has extraordinary potential. I will unlock it.”
Twitter shares were 11 percent higher in premarket trading. On Wednesday, the closing price was $45.85. » | Eshe Nelson | Thursday, April 14, 2022
