Tesla boss Elon Musk has offered to buy Twitter, saying he’s the right person to “unlock” the social media platform’s “extraordinary potential”.
In a surprise announcement, mr Musk said he would pay $54.20 a share for Twitter, valuing it at about $40bn.
It recently emerged that man Musk was Twitter’s biggest shareholder after he built up an outsized stake within the firm.
He said that if his provide wasn’t accepted: “I would want to rethink my position as a shareholder”.
A filing with the us monetary regulator seemed to show text and/or voice messages from mr Musk to Twitter’s board, showing that he had raised the concept at the weekend that the business ought to go non-public.
Mr Musk had been invited to join the board, however Twitter declared on Sunday he had set against it.In the messages published in the filing, mr Musk said he wasn’t “playing the back-and-forth game” and aforementioned of his offer: “It’s a high value and your shareholders can find it irresistible.”
He said he would have to sell his shares if the deal failed to undergo.
“This isn’t a threat, it’s merely not an honest investment while not the changes that require to be created,” he added.
In his filing with the United States regulator, mr Musk said he had invested with in Twitter as a result of “I believe its potential to be the platform without charge speech round the globe, and that i believe free speech could be a social imperative for a functioning democracy.
“However, since making my investment I currently understand the corporate can neither thrive nor serve this social imperative in its current form. Twitter must be transformed as a private company.”
He added: “Twitter has extraordinary potential. i’ll unlock it.”
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