Elon Musk, currently the largest stakeholder in Twitter, wants to become the only stakeholder in the company. The Tesla CEO has now offered to takeover the micro-blogging site and has offered a value of $54.20 per share, against the company’s current $45.85 share value. Twitter has said that it has received “an unsolicited, non-binding proposal from Elon Musk to acquire all of the Company’s outstanding common stock for $54.20 per share in cash.”
In his offer, Musk has said that he will not just be a mute shareholder in Twitter. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he said in a filing with the US Securities and Exchange Commission filing. In his notes, Musk has noted that he is not playing the back and forth game, and wants the deal to be closed soon. The filing shows Musk’s note to Twitter’s board, where he again expresses interest in taking the company private. Here are five points that Musk made in his offer to purchase Twitter in an all-cash acquisition of his favourite social media platform.
ALSO READ: This Is What Twitter Has To Say About Elon Musk’s Cash Offer To Buy The Company
1. “I am not playing the back-and-forth game.”
2. “I have moved straight to the end.”
3. “It’s a high price and your shareholders will love it.”
4. “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.”
5. “This is not a threat, it’s simply not a good investment without the changes that need to be made.cAnd those changes won’t happen without taking the company private.”
ALSO READ: Read Elon Musk’s Official ‘Offer Letter’ To Buy Twitter For $43 Billion In Cash
This clearly indicates that Musk wants to take Twitter private. In one point, he also said that he “doesn’t have confidence in management” nor does he “believe he can drive the necessary change in the public market.” He says that if this offer is rejected, the SpaceX founder will have to re-consider his current holding in the company. He further clarified that this is not a threat, but a good investment that Twitter’s shareholders will like.
ALSO READ: Elon Musk doesn’t have ‘Confidence on Management’: Reasons Why Tesla Boss Wants to Buy Twitter.
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