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Elon Musk Offers to Acquire All of Twitter Shares at $54.20, TWTR Goes Up

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Thu, 04/14/2022 - 10:33
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Yuri Molchan
Tesla boss has offered to buy up 100% of Twitter stock
Elon Musk Offers to Acquire All of Twitter Shares at $54.20, TWTR Goes Up
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The Tesla chief and the largest single shareholder of Twitter, Elon Musk, has offered to acquire all shares of the social media giant at $54.20 per share in cash, according to Bloomberg Terminal. The overall worth of this buy in USD would come to $41.3 billion in cash.

Musk has stated that this is his best and final offer and, should his offer be rejected, he will have to reconsider his position as a shareholder in the company.

This news has sent Twitter shares up 13.6% premarket. As for the Tesla share price, it dropped 1.4% premarket.

Musk believes that Twitter should become a private company in order for the necessary changes to be implemented.

He has stated that he believes Twitter has a potential to become a global free speach platform.

Earlier, Musk astonished the community by announcing that he had purchased over 9% of Twitter shares, becoming the single biggest shareholder. He was appointed to join the board but declined it.

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Musk was also sued by other Twitter shareholders for disclosing his ownership of TWRT too late, making them miss out on the recent run-up in the Twitter stock price caused by Musk's disclosure.

While considering joining the board, Musk suggested introducing the "edit button" and offered to accept DOGE payments for Twitter Blue subscription.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.