Right here’s Elon Musk’s proposal to purchase Twitter – in his personal phrases

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Tesla CEO Musk has supplied $54.2 per share in money, calling the worth his greatest and closing provide.

in article 1

A submitting from the US Securities and Trade Fee has disclosed Elon Musk’s message to Twitter’s Chairman Bret Taylor, as he made a suggestion to buy the social media company.

Beneath is a full transcript of a voice message and a letter Musk despatched to Taylor the place he specifies his situations and his proposal.

[SENT VIA TEXT]

As I indicated this weekend, I imagine that the corporate ought to be personal to undergo the modifications that should be made.

After the previous a number of days of considering this over, I’ve determined I wish to purchase the corporate and take it personal.

I’m going to ship you a suggestion letter tonight; will probably be public within the morning.

Are you out there to talk?

[Voice Script] 

1. Greatest and Last

a) I’m not taking part in the back-and-forth sport.

b) I’ve moved straight to the top.

c) It’s a excessive worth and your shareholders will like it.

d) If the deal doesn’t work, provided that I don’t have faith in administration nor do I imagine I can drive the mandatory change within the public market, I would wish to rethink my place as a shareholder.

i) This isn’t a menace; it’s merely not a very good funding with out the modifications that should be made.

ii) And people modifications gained’t occur with out taking the corporate personal.

2. My advisers and my staff can be found after you get the letter to reply any questions.

a) There might be extra element in our public filings. After you obtain the letter and assessment the general public filings, your staff can name my household workplace with any questions.

In a proper letter he despatched to Bret Taylor, chairman of Twitter’s board, Musk stated:

I invested in Twitter as I imagine in its potential to be the platform totally free speech across the globe, and I imagine free speech is a societal crucial for a functioning democracy.

Nonetheless, since making my funding I now understand the corporate will neither thrive nor serve this societal crucial in its present type. Twitter must be reworked as a personal firm.

Consequently, I’m providing to purchase 100% of Twitter for $54.20 per share in money, a 54% premium over the day earlier than I started investing in Twitter and a 38% premium over the day earlier than my funding was publicly introduced. My provide is my greatest and closing provide and if it’s not accepted, I would wish to rethink my place as a shareholder.

Twitter has extraordinary potential. I’ll unlock it.



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