Oyogist has learned that Musk has offered to acquire all the shares in Twitter he does not own for $54.20 per share, valuing the company at $43.4 billion.
That represents a 38% premium over the closing price on April 1, the last trading day before Musk disclosed that he had become Twitter’s biggest shareholder.
Musk said the cash offer was hist “best and final offer,” according to the SEC filing, adding that if it’s not accepted he would have to reconsider his position as a shareholder.
The Tesla CEO sent an offer letter to the company Wednesday night, according to the filing.
“I believe that the company should be private to go through the changes that need to be made,” he said.
Musk last week declined an offer from Twitter to join the company’s board after disclosing that he’d purchased a 9.2% stake in the company.
