Elon Musk wants to buy the social network Twitter for 40 billion euros

Deepak Gupta April 14, 2022
Updated 2022/04/14 at 11:51 AM

Tesla CEO Elon Musk is now Twitter’s largest single shareholder and therefore has a say in decisions. However, Elon Musk has now launched a hostile takeover bid to buy the social network.

Musk is willing to pay $54.20 (about €50) per share, in cash, which gives a total of $43 billion (almost €40 billion).

Elon Musk also wants to take Twitter off the grid new york stock exchange

Tesla and Space X chief executive Elon Musk made a hostile takeover bid (OPA) this Thursday to buy the social network Twitter for $54.20 (about 50 euros) per share, in cash. , corresponding to a valuation of 43 billion dollars (about 40 billion euros), reveals CNN.

Remember that after Musk became the largest single shareholder in Twitter, he gave up on joining the Twitter administration. Elon Musk informed of such a decision via Twitter.

In Letter now sent to the director of the administration of Twitter, Bret Taylor, Elon Musk, claims to have invested in the social network because he believes in the "potential" of the platform to guarantee the right to freedom of expression worldwide.

However, since I made this investment, I now realize that the company will never serve that societal purpose in its current form. Twitter needs to be turned into a private company

Image Elon Musk and Twitter

It can be read in the text of the letter. Musk says he's willing to "buy 100% of Twitter for $54.20 (about €50) a share in cash.

Elon Musk also intends to delist the company from the New York Stock Exchange. "This is the last and best offer I can make, and if it is not accepted, I will have to consider my position as a shareholder," he added.

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published.