Thursday, April 14, 2022

Elon Musk Offers to Buy Twitter for $54.20 a Share.

Elon Musk said his offer to buy Twitter for $54.20 a share represented a 54 percent premium over the share price on the day before he began investing in the company in late January. | Pool photo by Patrick Pleul

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