Neon Nettle
© 2022 Neon Nettle

Subscribe to our mailing list

Advertise Contact About Us Our Writers T&C's Privacy Support Us © 2022 Neon Nettle All Rights Reserved.

Elon Musk Floats Solution to Restore Free Speech, Offers to Buy 100% of Twitter

Tesla CEO makes offer to buy 100 percent of the company at $54.20 a share

 on 14th April 2022 @ 6.00pm
at musk   s quoted price  the proposed purchase of twitter would come to  43 billion in total © press
At Musk’s quoted price, the proposed purchase of Twitter would come to $43 billion in total

Telsa CEO Elon Musk has offered to buy 100 percent of the Twitter stock and make a private company, saying it would transform “the platform for free speech around the globe.”

Musk, who became Twitter’s largest shareholder with a 9.2 percent purchase of shares, made a public offer to buy 100 percent of the company at $54.20 a share, an 18 percent premium over Twitter’s closing price yesterday.

At Musk’s quoted price, the proposed purchase of Twitter would come to $43 billion in total.

In his publicly disclosed communication to the chairman of Twitter’s board, which can be read in full here, Musk said promoting free speech worldwide was the motivation behind his offer.

 now realize the company will neither thrive nor serve this societal imperative in its current form   musk said © press
'Now realize the company will neither thrive nor serve this societal imperative in its current form,' Musk said

Musk said he did not believe Twitter could reach its potential for free speech as a publicly owned company, saying:

“Twitter needs to be transformed as a private company.”

Via Seeking Alpha:

Bret Taylor

Chairman of the Board,

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.

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 into a private company.

As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter, and a 38% premium over the day before my investment was publicly announced. 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 has extraordinary potential. I will unlock it.

/s/ Elon Musk
Elon Musk

twitter previously offered musk a seat on twitter   s board in return for a guarantee that the billionaire would not buy more than 14 9 percent © press
Twitter previously offered Musk a seat on Twitter’s board in return for a guarantee that the billionaire would not buy more than 14.9 percent

Twitter previously offered Musk a seat on Twitter’s board in return for a guarantee that the billionaire would not buy more than 14.9 percent of shares in the company.

15 percent is a crucial threshold that gives shareholders more legal rights in some jurisdictions.

On March 25, Elon Musk conducted a poll on Twitter asking followers if they believed the platform “rigorously adhered” to the principle of free speech, which he said was “essential to a functioning democracy.”

Over 2 million Twitter users voted in the poll, with 70 percent saying they did not believe the platform adhered to free speech.

Prominent conservatives also responded to the poll by urging Musk to buy the platform.

SEC filings show that at the time of the poll, Musk had already purchased his 9.2 percent share in Twitter.

The billionaire acquired his shares beginning in January and reached more than nine percent on 14 March, 11 days before his Twitter poll.

[RELATED] Elon Musk: ‘Wokeness’ Is the ‘Biggest Threat to Modern Civilization’

Share:
tags: Elon Musk | Twitter
Steve Quayle Neon Nettle telegram

Facebook is heavily censoring information from independent sources.

To bypass internet censorship, connect with us directly by enabling our notifications (using the red subscription bell in the bottom right corner) or by subscribing to our free daily newsletter.

Get the latest news delivered straight to your inbox for free every day by signing up below.

SUBSCRIBE NOW

Subscribe to our mailing list

Follow Neon Nettle


PREV
BOOKMARK US
NEXT
on Nettle">BOOKMARK US NEXT on Nettle">BOOKMARK US NEXT on Nettle">BOOKMARK US NEXT