Elon Musk offered to buy Twitter And Take It Private
Billionaire Elon Musk has offered to buy Twitter, take the company private and build it into a platform for “free speech,”
It Comes days after the Musk purchased around 9% of the company and then turned down an offer to join its board.
Musk says he is offering to buy 100% of Twitter at $54.20 per share in an all cash transaction and then take it private.
The offer price also includes the number 420, widely recognized as a coded reference to marijuana.
He also picked $420 as the share price for possibly taking Tesla private in 2018, a move that brought him scrutiny from the SEC.
Musk announced the offer in a filing with the U.S. Securities and Exchange Commission on Thursday.
In a letter to Twitter’s board, Musk said he believes Twitter “will neither thrive nor serve [its free speech] societal imperative in its current form."
He added that Twitter needs to be transformed as a private company.