Elon Musk announces he wants to buy Twitter

After this announcement, the action of the social network climbed nearly 7% in electronic trading before the opening of Wall Street.

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A saga that never ends. Already the main shareholder of Twitter with just over 9% of its capital, Elon Musk now wants to take over the entire company and withdraw it from Wall Street, a non-negotiable offer, specified the whimsical boss of Tesla, Thursday, April 14.

“I propose to buy 100% of Twitter at a price of $54.20 per share in cash”said Elon Musk in a letter addressed to the chairman of the board of directors of Twitter, Bret Taylor, and published in a document transmitted Wednesday to the American stock market policeman, the SEC.

Billionaire boss’ proposed price would value Twitter at $43.4 billion (40.3 billion euros)compared to approximately 37 billion (34.32 billion euros) at present. According to Forbesthe personal fortune of the entrepreneur amounts to nearly 274 billion dollars (254 billion euros), which makes him the richest man in the world.

This proposal, specifies the leader, is “his best offer and his final offer”. In case of refusal, he threatens to “re-examine its position as a shareholder” within the microblogging site. After the announcement, Twitter’s stock soared nearly 7% in pre-opening Wall Street electronic trading.

Twitter confirmed in a statement that it had received “Elon Musk’s unsolicited, non-binding offer”. And promise that “Twitter’s board will carefully consider the offer”the group added.

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