Breaking: Elon Musk Proposes to Buy Twitter for $43 Billion!
Crypto News

Breaking: Elon Musk Proposes to Buy Twitter for $43 Billion!

1 Minuten
7 months ago

Only days after rejecting a seat on the board of Twitter, Elon Musk has put forward a proposal to buy a controlling stake in the company.

Breaking: Elon Musk Proposes to Buy Twitter for $43 Billion!

Elon Musk is going after Twitter.

After Musk decided not to join the Twitter board, speculation on Twitter went into a frenzy over Musk's next step. Some suggested Elon would launch a hostile takeover since he unloaded a series of trollish tweets mocking the current Twitter executives.

Those predictions came true today when this email from Musk was published:

Not only does Musk promise to "unlock" Twitter's "extraordinary potential,” but he also offered a generous premium over the current price. The proposal can also be seen as somewhat of an ultimatum, as Musk alludes to "reconsider" his position as a shareholder should his offer not be accepted. In other words, Musk will either take over Twitter or probably dump his shares again.

Crypto Twitter reacted immediately:

Twitter currently trades around $36 billion in market capitalization, a significant discount to Musk’s offer:

Twitter is yet to react to Musk’s proposal.

20 people liked this article