Musk makes his move, offers $43 billion for Twitter

Photo of Scott Nunn

After purchasing a 9% share of Twitter in recent weeks and later turning down a position on the board, Elon Musk has proved many industry experts correct by making an unsolicited offer to buy the company — at the tune of $43 billion.

Musk shared the news with his Twitter followers, tweeting "I made an offer."

According to the U.S. Securities and Exchange Commission filing, Musk offered $54.20 per share to buy the company.

Exhibit B in the filing is a letter and text Musk sent to board Chairman Bret Taylor.

"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 said. "However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.

"As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder."

"Twitter has extraordinary potential," Musk continued. "I will unlock it."

Musk's tweet had more than 65,000 retweets, and was quoted more than 20,000 times by 11 a.m. EDT April 14.

Yet there are those that say Musk's moves are prompted by Twitter's censorship, while others are accusing him of his own censorship.

Former U.S. Secretary of Labor Robert Reich tweeted a Guardian opinion article and said Musk blocked Reich when he criticized Tesla's worker violations, and Musk's attempted buyoff of University of Central Florida student Jack Sweeney, who had created a bot that tracked Musk's private jet.

Read the SEC filing yourself:

SEC Documents detailing Elon Musk's offer to buy Twitter by Scott Nunn on Scribd