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HomeNewsBREAKING: Elon Musk makes huge $43 billion offer to take over Twitter

BREAKING: Elon Musk makes huge $43 billion offer to take over Twitter

Elon Musk, Tesla’s CEO, has made a bid to purchase Twitter, a microblogging and social media network, for $43 billion.

Musk made the announcement in a filing with the Securities and Exchange Commission on Thursday.

The billionaire will pay 54.20 cents per share in cash, a 54 percent premium over the January 28 closing price and a value of almost $43 billion.

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Musk stated in a letter to Twitter’s board that Twitter “can neither survive nor satisfy [its free speech] social mandate in its current form.” Twitter must be restructured as a private firm.”

Musk initially revealed a 9 percent interest in Tesla on April 4.

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On March 24, the 50-year-old held a poll to determine if Twitter’s algorithm should be changed.

Musk later asked whether or not Twitter rigorously adheres to the principle of free speech.

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After the majority replied ‘no’, Musk asked whether a new networking site was needed, disclosing he was considering starting his own.

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