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Elon Musk places a hostile bid to take over Twitter

Tesla CEO Elon Musk seems to be in a mood to take over Twitter. He has launched a hostile takeover bid for Twitter, insisting it was a "best and final offer" and that he was the only person capable of unlocking the full potential of the platform. Musk has offered to buy 100 percent of Twitter for $54.20 per share in cash. Musk stated in a filing with the U.S. Securities and Exchange Commission on Thursday that Twitter has “ extraordinary potential” and he wants to unlock it. “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. 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," Musk said in the SEC filings.

Responding to the matter, Twitter said, "The Twitter Board of Directors will 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".


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