Elon Musk now "not sure" if Twitter purchase is possible after USD 43 Billion bid, teases Plan B
Billionaire and Tesla founder Elon Musk offered to buy Twitter for USD 54.20 per share last Thursday to transform it into a private company.
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| File photo: Twitter logo |
Uncle Elon goes shopping!
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
CEO of electric car company Tesla and space exploration SpaceX Elon Musk has offered to purchase Twitter for USD 54.20 per share in a recent regulatory filing published Thursday.
The Billionaire CEO says that the social media company needs to be transformed privately a week after revealing the 9.1 percent stake in the company. This offer values Twitter at about USD 43 billion or around PHP
Elon Musk sent a letter to Twitter Chairman Bret Taylor that was also disclosed in a securities filing that said the following:
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,
As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced, Elon Musk wrote. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.
CNBC reports that later that day, Twitter CEO Parag Agrawal reportedly told employees in a staff meeting that the company is evaluating the offer.
At a recent TED 2022 conference, Elon Musk was present and said that He is now "not sure" if he'll actually be able to buy Twitter hours after he made an offer to acquire the company.
TED's Chris Anderson asked if there was a "Plan B" if his current offer were to be rejected and Musk replied, "There is."
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