According to a report released by Bloomberg, the world’s richest man will offer $ 54.20 per share in cash, a 54 percent premium to the closing price on Jan. 28.
Musk announced the offer in a file he filed today with the U.S. Securities and Exchange Commission after Twitter’s board of directors denied his presence with them.
Twitter said its board would consider the proposal and any response would be in the best interests of “all shareholders of the company.”
Musk is currently worth about $ 260 billion, according to the Bloomberg Index, compared to Twitter’s market estimate of about $ 37 billion.
In a letter to Twitter’s board of directors, Elon Musk said he believes Twitter “will not thrive and will not serve.” [حرية التعبير] in its present form. Twitter should be private. ”
It is unlikely that the acquisition will be a long -term process. “If the deal doesn’t go through, and given that I don’t trust management and don’t think I can make the necessary changes in the public market, I need to rethink my position as a shareholder,” Musk said.
Source: Al Akhbar