Twitter has confirmed that Elon Musk is seriously planning to buy Twitter. In a statement to the media, Twitter said that it has received “an unsolicited, non-binding proposal from Elon Musk to acquire all of the Company’s outstanding common stock for $54.20 per share in cash.”
Musk said that its offer of $54.20 per share in cash is the best deal for Twitter and justified it by saying that the deal of $54.20 per share in cash is “a 54% premium over the day before he began investing in Twitter and a 38% premium over the day before his investment was publicly announced.”
Musk further clarified that he will not be juts mute shareholder in Twitter. “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 in its response said that “the board of directors 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.”
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