American Hero! Elon Musk Offers to Buy Twitter for $43 Billion


Elon Musk is offering to buy Twitter for $43 billion in a cash deal, saying the social media company “needs to be transformed as a private company.”

Twitter is valued at 40.1 billion thanks to Elon Musk buying nearly 10% of it. Prior to that, it was worth 35 billion.

Musk proposed in a regulatory filing on Thursday to buy all of Twitter.

“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,” he said in the filing. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form.”

Twitter Inc. said in a regulatory filing on Thursday that Musk, who currently owns slightly more than 9% of its stock and is the company’s biggest shareholder, provided a letter to the company on Wednesday that contained a proposal to buy the remaining shares of Twitter that he doesn’t already own. Musk offered $54.20 per share of Twitter’s stock.

Describing Twitter as having “extraordinary potential,” Musk said his unsolicited bid is his “best and final offer.” He also said he would “reconsider” his investment in the company if his offer is rejected.

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