Elon Musk wants to buy "100% of Twitter" and remove the company from Wall Street - DALTONHURD

Elon Musk wants to buy “100% of Twitter” and remove the company from Wall Street

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Multibillionaire Elon Musk offers to buy Twitter “100%”, according to a notification sent to the American stock market authorities. He says he is ready to pay $54.20 per Twitter share, a premium of 38% compared to the day before the public announcement of his investment in the platform.

Tesla boss Elon Musk, who recently acquired 9.2% of the capital of Twitter, offered on Wednesday, April 13, to buy the entire company at a unit price of 54.20 dollars per share and to exit the company. Wall Street business.

In a document sent Wednesday to the policeman of the American Stock Exchange, Elon Musk specifies that it is about “his best offer and his final offer” and threatens, in the event of refusal, to “reexamine his position as a shareholder” at the within the social network.

>> To see: “Elon Musk: Mars, Vladimir Putin, Twitter and me”

Following the announcement, Twitter said it would “carefully consider” the offer. Thursday morning, its action jumped 11.34% to 51.05 dollars in electronic trading before the opening of Wall Street.

Speaking in a letter to Twitter Chairman Bret Taylor, Elon Musk says he invested in the platform because of the major role it plays in promoting “freedom of expression across the planet”. which is, according to him, “a societal imperative of a functioning democracy”.

“However, since I made my investment, I realized that the company would not prosper and serve its societal imperative in its current form,” he said, proposing to delist Twitter. New Yorker.

A valuation of $43.4 billion

“I am offering to buy 100% of Twitter for $54.20 per share in cash, a premium of 54% from the day before my investment in Twitter began and 38% from the day before the public announcement of my investment”, details the boss-billionaire.

The figures put forward by Elon Musk would value Twitter at 43.4 billion dollars, against around 37 billion at present.

According to Forbes, the Tesla boss’s personal fortune is nearly $274 billion, making him the richest man in the world.

Elon Musk is particularly active on Twitter, where he has some 81.6 million followers.

In recent weeks, he has been critical of the social network, suggesting the addition of several features, such as an “edit” button, and questioning his subscribers about respect for freedom of expression.

The whimsical boss of Tesla and SpaceX was initially to join the board of directors of Twitter, but the general manager of the social network, Parag Agrawal, announced Monday that Elon Musk had finally given up on it.

With AFP

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