Elon Musk is starting an offer to buy Twitter for nearly 40,000 million

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Tesla co-founder and CEO Elon Musk has decided to launch a Procurement Tender (OPA) on Twitter, valued at $ 43.394 million (€ 39.803 million), according to a statement sent by the social network in the United States. Securities and Exchange Commission (SEC).

The offer made by the businessman, who was also the first shareholder of Twitter for a few days, is entirely in cash. Elon Musk offered $ 54.20 per share on Twitter, which is a 54% bonus compared to Jan. 28 when Musk started buying Twitter shares, as well as a 38% bonus on April 1 when he revealed his position in the company.

By taking all the shares in this operation, Twitter will be excluded from the stock market if the board of directors approves the offer and the shareholders accept it.

“Invest in Twitter because I believe in the potential to be a platform for freedom of expression around the world, and I believe that freedom of expression is a social imperative for a functioning democracy. However, after I made my investment, I realized that the company would not thrive and would not serve this social empire in its current form. “Twitter needs to be transformed into an unregistered company,” Musk said in a letter to the board of directors, in which he made his offer.

Musk currently owns 73.1 million shares of Twitter, or 9.1% of the company’s share capital. If the deal is successful, the businessman, the richest man in the world according to the Forbes list, will have to pay 39.431 million dollars (36.168 million euros) for the 90.9% he still does not control.

According to a statement sent to the SEC, Morgan Stanley plays the role of financial adviser to Elon Musk in this operation. In your letter to the Board, you emphasized that the current offer is your best and only offer. If the board does not accept this, Musk threatened to “reconsider” his position as a shareholder.

“Twitter has extraordinary potential. “I will block it,” Musk explained.

Informing European Press.

Source: El Diario

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