Elon Musk has made an offer to purchase Twitter's LIVE updates: Vanguard unseats Musk as the company's largest shareholder.

  • April 15, 2022, 11:54 a.m.

Elon Musk, the richest man in the world, now wants to buy the most popular social media platform on earth — Twitter. He has offered to pay  $54.20 a share for Twitter, valuing it at about $43 billion. The offer "represents a 54 per cent premium over the closing price of the Common Stock on January 28, 2022, the trading day before the Reporting Person began investing in the Issuer, and a 38 per cent premium over the closing price of the Common Stock on April 1, 2022, the trading day before the Reporting Person’s investment in the Issuer was publicly announced," according to the stock exchange filing.

Revealing his proposal, Tesla boss said, ‘I made an offer’ on Twitter. Earlier this month, Musk disclosed that he owns 9.2 per cent stake in the popular social media platform.

Musk had invested in Twitter because he "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," he said, adding,"Twitter has extraordinary potential. I will unlock it."

Twitter said its board "will carefully review the proposal to determine the course of action that it believes is in the best interest of the company and all Twitter stockholders".

Author : Rajdhani Delhi Representative

Rajdhani delhi representative

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