Tesla CEO Elon Musk could take over Twitter for $43 billion

Tesla CEO Elon Musk could take over Twitter for 43

Tesla CEO wants to make Twitter private, according to a recent filing published by the Securities and Exchange Commission (SEC).

In recent weeks, Musk managed to become Twitter’s largest shareholder and was offered a seat on the board of directors of the social media platform. On April 11, however, he declined to serve on Twitter’s board of directors.

It appears that Twitter may not even have a board of directors, as Elon Musk filed an SEC filing to acquire the social media platform for $54.20 a share, equating to a total price of $43 billion.

According to a message accompanying the filing, Musk claimed his initial investment in Twitter was to create a “platform for free speech around the world,” but the largest shareholder wouldn’t be enough.

Therefore, the Tesla CEO hopes to acquire “100% of Twitter”, with a final offer of $54.20 per share. If the deal falls through, Elon Musk may change his mind to become a shareholder of Twitter.

Likewise, Twitter announced in an official press release that they have received Elon Musk’s proposal to acquire the remaining shares. The decision will be made after Twitter’s board of directors “carefully considers the proposal to determine the course of action it believes is in the best interest of the company and all of Twitter’s shareholders.”

by Dom Z. – Crypto Analyst, BitDegree

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