Elon Musk offers to buy Twitter for $54.20 per share in dramatic takeover

• Elon Musk wants to buy Twitter for $54.20 per share.
• He says that if the offer is not considered, he will have to reconsider his position as shareholder.
• Last week, he bought 9.2% of the company to become the largest shareholder. He was offered to become a board member, to which he declined.

Musk wants to buy all of the company for $54.20 per share in cash.

Musk is offering to acquire all of the outstanding Common Stock of the Issuer not owned by the Reporting Person for all cash consideration of $54.20 per share. The letter was posted on a website.

In the letter, Musk states that he believes that free speech is a social imperative for a functioning democracy and that he believes that the platform for free speech around the globe is in its potential.

He will reconsider his position as a shareholder if his offer is not accepted.

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Last week, Musk purchased 9.2% of the company's common stock and was offered a seat on the board. Musk told the CEO of the company that he no longer wanted to sit on the board, which would allow him to buy the company.

If you want to take over a company, you are usually in a better position to not be on the board.

When you are a board member, you have a responsibility to get the best value for your shareholders.

According to a press release, the Board of Directors will carefully review the proposal to determine the best course of action that it believes is in the best interest of the Company and all stockholders.

The net worth of Musk is around $260 billion, while the market valuation is $37 billion.