Elon Musk makes $41 billion offer to buy Twitter

[midian182]

What just happened? In what should come as no surprise to anyone, Elon Musk has offered to buy Twitter. The world's richest person said he would pay $54.20 per share for the company, valuing it at around $41 billion at the time of the offer, adding that if his offer were not accepted, "I would need to reconsider my position as a shareholder."

A US Securities and Exchange Commission (SEC) filing shows Musk made his offer in a letter to Twitter board chairman Bret Taylor. He wrote that since becoming Twitter's largest shareholder, Musk has realized "the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company."

Musk added that the reason behind his initial investment was a belief in Twitter's "potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy." One of the several polls Musk recently tweeted to his 80 million+ followers asked if they believed Twitter adhered to the principles of free speech.

I made an offer https://t.co/VvreuPMeLu

— Elon Musk (@elonmusk) April 14, 2022

Twitter's board of directors responded to the offer with: "The Twitter Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders." Company shares jumped 13% in pre-market trading on the back of the news.

Following the revelation that Musk had quietly purchased 9.2% of Twitter, company CEO Parag Agrawal announced that the Tesla boss would be joining the board of directors, which would have limited the number of shares he could own to 14.9%, preventing him from launching a takeover bid. He turned the position down at the last minute and, as predicted, is now going after all of Twitter.

"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," Musk said in the filing.

Musk is also facing a class-action lawsuit from another shareholder for failing to disclose his stake in the company within the required ten days, thereby affecting its share prices.

Permalink to story.

https://www.techspot.com/news/94202-elon-musk-makes-401-billion-offer-buy-twitter.html

 

[Jyrkz]

Soon he will call himself the "founder" of twitter LOL

 

[okie11]

Twitters time has come and gone, even if Musk were to buy it, I think it's already to late.

 

[Squid Surprise]

I liked that his offer had 281 characters in it - with the limit being 280 for Twitter posts... guess Twitter will increase their limit if he is successful...

 

[Hexic]

Warming up the popcorn now! I am not on Twitter, but I would take an educated guess that it's a bit more fiery than it's normal daily s*itshow after this news.

I just want to watch the children panic that their 'free' speech platform is in jeopardy.

 

[VaRmeNsI]

Libtards will cry.

 

[yRaz]

Libtards will cry.

I don't follow

 

[emmzo]

Libtards will cry.

I can see where this is coming from. Fox was literally begging Musk to unleash Trump. Problem is, he's still undecided, after all, green cars are not on the list of GOP' s priorities.

 

[viperfl]

Libtards will cry.

Run like rabbits to their safe space

 

[viperfl]

Kind of knew when he turned the offer to join the board that he had something like this up his sleeve. Taking the company private will give Elon Musk total control over the company.

You watch the people who advocate for censorship are now going to push for heavy government regulation on social media if Elon Musk is approved to buy Twitter.

Free speech - 1, censorship - 0

 

[Geralt]

I pay for that crap 1 dollar.

 

[m4a4]

I wonder how many people working at Twitter right now are having (more) meltdowns... lol

 

[ZedRM]

Musk owning Twitter? That could be a good thing. Maybe Twitter would become actually be useful...

Twitters time has come and gone, even if Musk were to buy it, I think it's already to late.

You could be right. A lot of people have never liked it.

 

[Bohefus]

after all, green cars are not on the list of GOP' s priorities.

Has nothing to do with "green cars" or energy. Why not let the market bare what people choose? Dems trying to force green with taxes & overpriced fuel.

 

[dirtyferret]

I don't follow

musk would bring trump back onto twitter so all the trump *****s can worship his "bigly" wisdom again

 

[dirtyferret]

I can see where this is coming from. Fox was literally begging Musk to unleash Trump. Problem is, he's still undecided, after all, green cars are not on the list of GOP' s priorities.

gops are more interested in fake voter conspiracies, what time they need to storm the capital, and attack the police

 

[dangh]

Kind of knew when he turned the offer to join the board that he had something like this up his sleeve. Taking the company private will give Elon Musk total control over the company.

You watch the people who advocate for censorship are now going to push for heavy government regulation on social media if Elon Musk is approved to buy Twitter.

Free speech - 1, censorship - 0

Out of curiosity, using e.g. "N" word on censorship - free Twitter would be allowed or not?
Organizing some group to kill someone / burn a building is freedom of speech or something which should be moderated / censored?

 

[Ohnooze]

gops are more interested in fake voter conspiracies, what time they need to storm the capital, and attack the police

And dems are more interested in controlling what people can say, pushing fake russian collusion, dismissing huntard Biden scandals and screaming bigot at everyone who disagrees with them.
I guess no one is perfect....

 

[Ohnooze]

All the people who are part of the hive mind, can't think for themselves, and like to be controlled are going to melt down. Going to be epic....

 

[wiyosaya]

Funny how no one yet posting seems to see how this would set up Musky to be the Sith Lord as he would then have a platform where everyone would follow him, and he could manipulate any market he wants. I don't get how the right cheers him on (you really think he will reinstate Trumpy?? the two hate each other - there's no way Musky will reinstate Trumpy), but I do get how the left wants to prevent his outright manipulations of the market.

Ah, but what they heck - as I see it, we have come to a point where

“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright *****.”

so it does not surprise me that so many worship Musky as if he has been sent from God as an angel of deliverance.

 

[wiyosaya]

Organizing some group to kill someone / burn a building is freedom of speech or something which should be moderated / censored?

SCOTUS has already weighed in on this - had you decided to research it instead of posing the possibility of anarchy as a form of rule.

EDIT: Just in case you are not sure - what you are asking is tantamount to inciting violence, and SCOTUS has already decided it is NOT part of free speech.

 

[julesigles]

Funny how no one yet posting seems to see how this would set up Musky to be the Sith Lord as he would then have a platform where everyone would follow him, and he could manipulate any market he wants. I don't get how the right cheers him on (you really think he will reinstate Trumpy?? the two hate each other - there's no way Musky will reinstate Trumpy), but I do get how the left wants to prevent his outright manipulations of the market.

Ah, but what they heck - as I see it, we have come to a point where

so it does not surprise me that so many worship Musky as if he has been sent from God as an angel of deliverance.

Which "god" could you possibly be referring to?

 

[Squid Surprise]

Which "god" could you possibly be referring to?

Well obviously not the Muslim God, as those who follow Musk assume Allah is responsible for every terrorist act on Earth...

 

[George Keech]

I just think Twitter should not exist - The potential it has is if it was on fire in a pit somewhere.

 

[dangh]

SCOTUS has already weighed in on this - had you decided to research it instead of posing the possibility of anarchy as a form of rule.

EDIT: Just in case you are not sure - what you are asking is tantamount to inciting violence, and SCOTUS has already decided it is NOT part of free speech.

I do not even know what scotus is, I do not live in US and just wonder how the US political correctness and all this emotional baggage will affect rest of the world which uses social media. If there still be check for the violence and fact correctness to reduce amount of BS people of power often write, then I don't care.
Way too often people attacking verbally other claims it is a free speech statement. Obviously, they are using 'free speech' flag to cover whatever they wants, but good to see it is not mean 'I'm free to do anything without consequences'.