Twitter is going through an eventful time right now. Elon Musk recently became Twitter’s largest shareholder, turned down the offer to be on its board, and has now offered to buy Twitter. In a filing with the Security Exchange Commission (SEC), Musk has offered to pay $54.20 per share. Interestingly, the mention of 420 is a reminder of Musk’s infamous value of Tesla Motors, which he proposed for whenever it goes public. Here are the details.
As part of a “hostile bid,” Musk has a non-binding proposal to acquire all of the company’s outstanding common stock at around $43 billion, which he considers the “best and the final offer.“
Twitter has also confirmed that it has received the proposal and has revealed that the Board of Directors will review it and come up with a decision that serves the interest of the company and its stockholders.
