{"id":105,"date":"2023-03-04T03:43:22","date_gmt":"2023-03-04T03:43:22","guid":{"rendered":"http:\/\/demo2.aiwalls.com\/cryptonews\/?p=105"},"modified":"2023-03-04T03:43:22","modified_gmt":"2023-03-04T03:43:22","slug":"elon-musk-offers-to-buy-100-of-twitter-calls-it-best-and-final-offer","status":"publish","type":"post","link":"https:\/\/alibaba.fm\/?p=105","title":{"rendered":"Elon Musk Offers to Buy 100% of Twitter, Calls it \u2018Best and Final Offer\u2019"},"content":{"rendered":"

Elon Musk Offers to Buy 100% of Twitter, Calls it \u2018Best and Final Offer\u2019<\/p>\n

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Elon Musk. Source: A video screenshot, Youtube, Bloomberg.<\/figcaption><\/figure>\n

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Tesla CEO Elon Musk has reportedly offered to buy 100% of Twitter at a price of USD 54.20 per share, after taking a stake of 9.2% earlier this month. <\/p>\n

Musk’s offer would value Twitter at close to USD 43.4bn, up from a current market capitalization of USD 36.7bn. It would also mean that the company would no longer be a publicly listed company, and instead become one of America’s most valuable privately-owned companies.<\/p>\n

Musk reportedly called the offer his “best and final offer,” the Wall Street Journal reported, quoting the largest shareholder of Twitter as saying that “If it is not accepted, I would need to reconsider my position as a shareholder.”<\/p>\n

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Writing in a letter to Twitter Chairman Bret Taylor that was disclosed in a securities filing, Musk said:<\/p>\n

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“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.”<\/p>\n<\/blockquote>\n

Musk is known as an active Twitter user and free-speech proponent who has previously voiced dissatisfaction about the way Twitter handles freedom of speech issues on its platform.<\/p>\n

Meanwhile, Twitter is also the main social media platform used by the crypto community to share ideas and discuss developments in the space.<\/p>\n

The outspoken CEO has also used the social media platform extensively to tweet about crypto, including his views on bitcoin (BTC) and – arguably his favorite coin – dogecoin (DOGE).<\/p>\n

DOGE immediately jumped on the news today, rising by more than 6% before giving back some of its gains. As of 11:20 UTC, the ‘meme coin’ traded for USD 0.1438, up 3.8% for the past 24 hours.<\/p>\n

Recently, Musk bought a 9.2% stake in Twitter, becoming the company’s largest shareholder. Following the investment, Musk was offered a seat on the company’s board by Twitter CEO Parag Agrawal, but declined the offer.<\/p>\n

Following the Msk’s rejection of Agrawal’s offer for a seat on the board, the CEO shared a note that he sent to Twitter employees, saying “There will be distractions ahead […].” The note was interpreted by some to mean that Twitter’s top management could already sense that Musk was planning a takeover of the company.<\/p>\n

Twitter’s stock closed at USD 45.85 on Wednesday. Musk’s offer would indicate a rise of approximately 18% for the stock from current levels.<\/p>\n

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Reactions:<\/p>\n

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Learn more: 
– Musk Not Joining Twitter’s Board But Wants ‘Significant Improvements’, Teases DOGE Payments Integration
– Elon Musk Won’t Sell Bitcoin, Ethereum, Dogecoins as Inflation Soars and Recession Risk Grows<\/p>\n

– VCs Fight Back as Jack Dorsey, Elon Musk Attack ‘Web3’ Narrative
– Elon Musk Should Listen to Cathie Wood on Bitcoin<\/p>\n

– Facebook, Watch Out! Aave and Twitter’s Bluesky Move Towards New Social Media Standard
– Post-Dorsey Twitter Adds Tipping in Ethereum<\/p>\n

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(Updated at 11:31 UTC: updates throughout the entire text.) <\/i><\/p>\n

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Elon Musk Offers to Buy 100% of Twitter, Calls it \u2018Best and Final Offer\u2019 Elon Musk. Source: A video screenshot, Youtube, Bloomberg.   Tesla CEO Elon Musk has reportedly offered to buy 100% of Twitter at a price of USD 54.20 per share, after taking a stake of 9.2% earlier this month.  Musk’s offer would […]<\/p>\n","protected":false},"author":1,"featured_media":106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"_links":{"self":[{"href":"https:\/\/alibaba.fm\/index.php?rest_route=\/wp\/v2\/posts\/105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alibaba.fm\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alibaba.fm\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alibaba.fm\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/alibaba.fm\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=105"}],"version-history":[{"count":0,"href":"https:\/\/alibaba.fm\/index.php?rest_route=\/wp\/v2\/posts\/105\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alibaba.fm\/index.php?rest_route=\/wp\/v2\/media\/106"}],"wp:attachment":[{"href":"https:\/\/alibaba.fm\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alibaba.fm\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alibaba.fm\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}