Twitter stock

Elon Musk offered to buy Twitter for $54.20 a share, saying the social media company needs to be transformed privately.

My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. "My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder." The Tesla CEO has previously criticized the social media giant publicly, polling people on Twitter last month about whether the company abides by free speech principles. 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. CNBC's David Faber reported on " Squawk on the Street" that Twitter's board will meet at 10 a.m. to evaluate the bid, per people familiar. "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," Musk wrote in a letter sent to Twitter Chairman Bret Taylor and disclosed in a securities filing.

Shares of Twitter Inc. soared Thursday, after its largest shareholder Elon Musk disclosed a bid to buy the rest of the social media company's stock that he.

Twitter than said it had named Elon Musk to its board of directors, only to have Musk confirm later that he wouldn’t join the board after all and could instead engage with the company without limitation. Twitter needs to be transformed as a private company.” Twitter’s stock has gained 9.0% year to date but has tumbled 32.5% over the past 12 months. Musk said that he would not play a “back-and-forth game” and that his $54.20-per-share bid is his “best and final offer.” However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter said it would “carefully review” Musk’s “unsolicited” bid and determine what it believes would be in the best interest of the company and its shareholders.

Musk's offer comes after the Tesla and SpaceX CEO became Twitter's largest shareholder. Musk says he will unlock Twitter's potential.

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The Tesla chief executive made an offer worth more than $40 billion to buy Twitter and take it private.

But long hours and unpredictable workloads have long been part of the reality of the industry. Twitter said it would “carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders.” Dan Ives, an analyst at Wedbush, told DealBook that Musk’s approach “is going to put unbelievable pressure on the board from a fiduciary perspective.” Twitter’s board is likely to argue that the price is too low and question the strategic course of the company in Musk’s hands. The Justice Department is leaning on an old law in a new way. A key part of the U.S. pandemic recovery playbook has been to pump money into the pockets of consumers. Spending was up 15 percent in the first eight days of April. The banks’ recent results suggest, however, that there is a limit to what consumers can spend without trouble. — Ken Smythe of Next Round Capital Partners on the prospects for delivery start-ups, whose pandemic bump in orders has started to tail off. The 60-day delinquency rate on subprime auto loans in the U.S. was nearly 5 percent in February, the highest since early 2020 and up from under 4 percent a year ago. Musk will face questions about whether he has the capacity to personally buy out a social media giant given his day jobs as C.E.O. of Tesla and SpaceX. (Twitter’s co-founder Jack Dorsey faced questions about whether he could be C.E.O. of Twitter and Square, and stepped down from Twitter.) It is also not lost on market watchers that $54.20 a share is an echo of Musk’s infamous, ill-fated 2018 proposal to take Tesla private at $420 per share. Musk said he had lost confidence in Twitter’s management to fulfill the company’s “societal imperative” as a platform for free speech. It may seem strange to ask about a person with a net worth of $270 billion, but it’s noteworthy that there are no details about the financing of Musk’s proposal. “After the past several days of thinking this over, I have decided I want to acquire the company and take it private,” Musk told Twitter’s chairman, Bret Taylor, in a communication made public today. His “best and final offer,” as he put it in a financial filing, is $54.20 a share, nearly 40 percent higher than Twitter’s stock price before the mercurial billionaire’s purchases became public.

Shares of Twitter Inc. undefined soared 12.2% in premarket trading Thursday, after Tesla Inc. undefined "Technoking" Elon Musk disclosed a proposal to buy.

The disclosure comes in a 13D/A filing with the Securities and Exchange Commission early Thursday, in which Musk confirmed his previous disclosure of owning 73.12 million Twitter shares, or 9.1% of the shares outstanding. Shares of Twitter Inc. TWTR,+3.55%soared 12.2% in premarket trading Thursday, after Tesla Inc. TSLA,-3.43%"Technoking" Elon Musk disclosed a proposal to buy all of the outstanding shares of the social media company he doesn't already own for $54.20 each. That represents an 18.2% premium to Wednesday's closing price of $45.85. With 800.64 million shares outstanding as of Feb. 10, Musk's bid would value Twitter at $43.39 billion.