Tech billionaire Elon Musk has offered to buy all of Twitter's shares. This is according to a document published on the website of the US Securities and Exchange Commission.

Musk offered a price of $41.39 billion (37.95 billion euros), or $54.20 (49.7 euros) per share. The businessman explained that he had previously acquired a stake in Twitter because he believed it could become a platform "that respects the principles of free expression around the world." Free expression, on the other hand, is a "public necessity for a functioning democracy." Musk's statement, quoted in the document, said:

"After investing in the company, however, it became clear to me that it will not thrive in its current form or serve this social mission. Twitter needs to be transformed into a private company. I am therefore proposing to buy out 100 percent of Twitter."

In the event that his proposal is not approved, Musk promised to "reconsider his position as a shareholder." He stated:

"Twitter has incredible potential. I'm going to unleash it."

Twitter shares rose 18 percent to $53.88 (49.4 euros) per share following his purchase offer.

In early April, it was announced that Musk had become one of Twitter's largest shareholders, with a 9.2 percent stake. The U.S. Securities and Exchange Commission said April 4 that the Elon Musk Revocable Trust, established by the businessman, owns nearly 73.5 million shares of the company. Bloomberg estimates that such a stake could be worth $2.89 billion (2.65 billion euros) as of the market close on April 1.

On April 5, Twitter decided to add Musk to its board, but the businessman declined. Under the terms of his joining the board, Musk would not have been able to increase his stake in Twitter above 14.9 percent during his tenure. That restriction no longer applies.

https://test.rtde.live/international/136231-musk-will-twitter-fur-41/

Translated with www.DeepL.com/Translator (free version)