Elon Musk has initiated his hostile takeover of Twitter with an offer to purchase 100% of the company. It is an offer they cannot refuse.
On early Thursday, Musk made his “best and final” offer to buy Twitter Inc., stating that he intends to unlock the company’s “extraordinary potential.”
Musk’s current 9.1% stake in the company makes him Twitter’s largest individual shareholder.
According to Bloomberg, Musk, who’s the world’s richest man, will pay $54.20 per share in cash, representing a 54% premium over the company’s Jan. 28 closing price. It will cost Musk a cool $43 billion – above its current market valuation of $37 billion.
Musk announced the offer in a filing with the U.S. Securities and Exchange Commission (SEC) on Thursday. He first disclosed a stake of 9% on April 4.
