US – Elon Musk Twitter’s biggest shareholder has made a move over the weekend to buy Twitter.
Musk says that afterthoughts he wants to make moves to make twitter bigger than it is and he can only do that if he owns it and makes it a private company.
Musk, Twitter’s largest shareholder, has offered to buy the company outright for $54.20 per share in cash, according to a US Securities and Exchange Commission (SEC) filing Thursday.
“If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder,” Musk appears to have said. “This is not a threat, it’s simply not a good investment without the changes that need to be made.”
Per the filing, in his letter to Taylor, Musk said: “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.”
He added: “Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
Twitter said Thursday it had received “an unsolicited, non-binding proposal from Elon Musk to acquire all of the company’s outstanding common stock” and would “carefully review the proposal to determine the course of action that it believes is in the best interest of the company and all Twitter stockholders.”
