On Monday, Elon Musk said that he'd acquired more than 73 million Twitter shares, becoming the platform's largest shareholder. He now says he's made an offer to buy the rest. File Photo by John Angelillo/UPI | License Photo
His offer is a 54% premium over the closing price of Twitter's common stock on Jan. 28, the day before Musk began investing in the company. It's also a 38% premium over the closing stock price on April 1, the trading day before Musk's investment became public.
Musk has been buying chunks of Twitter shares since January and now owns more than 73 million, which amounts to a little more than 9%. File Photo by Joe Marino-Bill Cantrell/UPI
"If it is not accepted, I would need to reconsider my position as a shareholder," Musk said in the note to Taylor. "Since making my investment, I now realize the company will neither thrive nor serve this societal imperative in its current form."
Thursday's filing is the latest turn in what's been a busy week in the saga involving Musk and Twitter.
Twitter said that it has received Musk's offer and will decide whether to accept or continue as a publicly traded company on the New York Stock Exchange.