Tesla CEO Elon Musk presents his “best and last” opportunity to buy 100 percent of Twitter in an updated 13D filing filed Thursday. He pays $ 54.20 per share.
Musk is proposing to “acquire all outstanding public shares outstanding from the issuer-owned provider for all cash transactions valued at $ 54.20 per share.” The proposal was presented in a letter to Twitter on April 13th. Musk says Twitter needs to be personal to make the changes that need to be made.
“I have to reconsider my position as a partner,” Musk says, if his offer is not accepted.
Shares of Twitter are up 13 percent ahead of the market. Shares of Tesla fell 1.5 percent on fears that Twitter’s number one fan – already Tesla, SpaceX, The Boring Company and Neuralink – could be distracted by its new pet.
The Won’t he buy the Twitter story? Ten days ago, the world’s richest man bought a 9.2 percent stake in the company. As soon as Twitter announced that Musk would be appointed to his team, it would only end a few days ago, prompting Twitter CEO Barack Agarwal to tell staff that “there will be distractions ahead.”
The hostile acquisition will definitely distract everyone involved.