The relationship between Elon Musk and Twitter has been shaky. Since Musk is Twitter’s largest shareholder, commentators and media have been closely following his views about the micro-blogging site. Recently, Twitter’s Chief Executive Parag Agrawal said that Musk won’t be joining the company’s board of directors.
On Thursday, a new development happened. Musk stated that he is ready to buy out Twitter. He is ready to shell out $54.20 per share in cash, reports said. Bloomberg said that Musk has launched $43 billion hostile takeover of Twitter.
He also said that he will offer a 54% premium on the closing price as prevailed on January 28. Musk views that Twitter has got extraordinary potential that he wants to unlock. He wants to transform it by wielding powers.
Summing up the Musk journey with Twitter in recent weeks, Litquidity wrote, “Elon Musk went from: 1. teasing changes to Twitter over a poll. 2. buying a 9.2% stake. 3. accepting then declining a board seat. 4. getting sued by Twitter shareholders over delayed disclosure. 5. offering to buy ALL of Twitter. In just a few weeks. absolute rollercoaster.”
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