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Billionaire entrepreneur Elon Musk has made a substantial offer to acquire social media platform Twitter, according to a regulatory filing unveiled on Thursday,Your Content has learned.
Musk, known for his audacity and relentless pursuit of his goals, has expressed his intention to purchase the company for a staggering $41.39 billion.
As of now, Musk already possesses over 9 percent of Twitter’s stock, demonstrating his existing involvement with the platform.
In his proposal, he has put forward an offer to acquire the remaining shares of Twitter at a price of $54.20 per share.
This price point represents a notable 38 percent premium compared to the closing value of Twitter’s stock on April 1, the last time Musk acquired shares of the company.
While industry analysts acknowledge the magnitude of Musk’s bid, they anticipate that Twitter’s board will likely reject the offer.
However, they also argue that dismissing Musk’s “generous” proposal may not be a feasible option for the company.
In the event of such a rejection, Musk could potentially pursue a hostile takeover strategy to gain control of Twitter.
The outcome of this high-stakes battle for control over the popular social media platform remains uncertain, but Musk’s track record of determination suggests that he may not easily accept defeat in his pursuit of acquiring Twitter, according to The Daily Mail.
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