Elon Musk Offers to Buy Twitter and Take it Private

Elon Musk has offered to buy Twitter and take it private. According to an SEC filing he offered to acquire all the shares in Twitter he does not own for $54.20 a share, valuing the company at $43.4 billion. In the filing, Musk said the offer was his ‘best and final offer’ and that if it’s not accepted he would have to reconsider his position as a shareholder. In a letter sent to the company last night he 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”… “However, 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 issued a statement confirming the offer and the company’s board will be reviewing the proposal.