Read Elon Musk’s letter to
Twitter’s board outlining
the ‘last and best offer’ to
buy the company
I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.
However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.
As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.
Before closing time on May 14, Twitter’s shares were trading at $45.85/share. In a letter to his employees, the Twitter CEO said the company’s board is reviewing Elon Musk’s offer.