Elon Musk has been taking shots at Twitter and has now made a final offer to buy the social media platform for an impressive $43 billion. The offer was filed with the SEC (United States Securities and Exchange Commission) and states that it is his “best and final” offer to the company.
The offer from Musk states:
“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.
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. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.
Twitter has extraordinary potential. I will unlock it.” — Elon Musk
The offers extends past the current value of Twitter and now rests in the hands of Twitter’s executive board and shareholders.
Musk had appeared to decline the opportunity to become a director and board member after buying a 9.2% stake in the company. If he would have taken the position, it would have prevented him from buying further into the company and/or trying to take it over. However, this now leaves opportunities open for the billionaire to take further shots at the company and potentially acquire it unless Twitter can find ways of blocking his attempts.
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
At this point, it isn’t as dramatic as that. As this is just an offer that is officially filed for a peaceful purchase of the company that is more than reasonable given the amount being offered. However, if Twitter decides to turn Musk’s “best and final” offer down, he may resort to more strategic options. Therefore, a he does indeed appear to be playing an intense game of chess and doing quite well with it.
There have been mixed opinions about Musk having full control over the social media platform given a number of Tweets that he has published over recent years. One of which resulted in him getting a massive fine from the SEC in 2018.
It’s hard to say if he could bring growth to the company or not. However, he sure does have a plan nonetheless and has been Tweeting about it since.