September 29, 2022

Elon Musk offered over $43 billion to buy Twitter

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Elon Musk has offered to buy Twitter for $54.2 per share, according to SEC documents. The billionaire called the offer “the best and final.”

According to CNBC, Twitter issued 800.64 million shares, a deal worth more than $43 billion if approved.

As part of the takeover, Musk hired investment bank Morgan Stanley as a financial advisor.

Against the background of the statement of the head of Tesla, Twitter shares in the premarket rose by 11% (on the New York Stock Exchange). At the time of writing, the stock is trading near $51.

In April 2021, Musk became the largest shareholder of Twitter, having bought 9.2% of the company’s securities for $2.89 billion. Earlier, the billionaire criticized the social network’s free speech policy.

Recall that the head of Tesla proposed to reduce the cost of a Twitter Blue subscription and provide users with the opportunity to pay for a premium service in Dogecoin (DOGE).

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