Billionaire Elon Musk wants to buy Twitter. He had already acquired a considerable share of the social network’s shares, however, this does not seem to have been enough. Now, the businessman has made a proposal to acquire 100% of the site for US$ 41 billion. Converted to the real, this value would be around 197 billion.
The value represents that he is offering US$ 54.20 per share, something that is around R$ 255. The value is high and greater than the shares were worth on the stock exchange until the beginning of the month, about 38% more. It is worth adding that last week, after buying 9.2% of the network’s shares, Musk was offered a seat on the board of directors, but he declined.
Musk, currently the richest man in the world, even sent a letter talking about his offer. According to the billionaire, if the proposal is not accepted, he will reconsider his position as a shareholder in the network. The letter was addressed to Bret Taylor, the network’s current president. The president of Tesla and SpaceX also stated that this is their best offer (and their final offer).
Check out an excerpt from the letter sent by Elon Musk to the president of Twitter:
“Since I made my investment, I’ve realized that the company will neither prosper nor meet this social imperative in its current form. Twitter needs to be turned into a private company.”
On the side of Twitter, the news agency Reuters says that the social media company will analyze the tycoon’s proposal. They will be advised by investment banks Goldman Sachs & Co. In addition, the law firm Wilson Sonsini Goodrich & Rosati also helps in decision making regarding the proposal.
The main point of Musk’s attempt to buy Twitter is, as he says in the letter, to take the company private. This means that, after acquiring 100% of the shares, he would take the brand private. According to the tycoon, he wants to invest in the social network because he sees an opportunity to make it a vehicle for freedom of expression, a discussion he has raised on the network several times.
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