(CTN News) – Twitter will evaluate the $43 billion offer from tech billionaire Elon Musk. Tesla CEO Elon Musk’s “unsolicited, non-binding” offer has been responded to and the social media company has agreed to investigate. Elon Musk surprised the world by making a massive offer for the company, proposing to pay $43 billion for it.
The tweet said its board will evaluate an “unsolicited, non-binding” offer from Tesla chief Elon Musk to acquire the social network.
Musk made the announcement at the US Securities and Exchange Commission on Thursday, April 14. Tesla CEO Elon Musk shared the link to his offer on Twitter with the following message: “I made an offer.” Musk is offering $54.20 per share in cash, a 54% premium to the closing price on January 28 and a 38% premium to the closing price on April 1.
Elon Musk maintains mystery over Twitter
Elon Musk recently purchased the majority stake in Twitter, making him the largest shareholder. According to a Securities and Exchange Commission 13G filing on Monday, April 4, the billionaire owns 7,34,86,938 shares, which accounts for 9.2% of Twitter’s total stake, worth $2.9 billion.
After that, Twitter CEO Parag Agrawal announced him as the newest board member. Twitter CEO shared the news on Tuesday and welcomed Musk saying he would be a great asset to the company. Elon Musk dropped out of the Twitter board proposal and refused to join.
It continued to be speculated what the billionaire’s motive was for buying the enormous stake in Twitter, even as he posted polls asking for public opinion on new features for Twitter, including an edit button.
On social media, Tesla’s CEO is often uncensored with his views and consequently faced backlash. Musk also had to take down some of his scandalous tweets. His critical tweets have been deleted lately. What his next move will be and whether Twitter will accept his offer remain to be seen.