Jess Hardiman
Elon Musk has shared a message to his ‘worst critics’ on Twitter as he closes in on buying the company, having offered up a whopping $43 billion.
Earlier today, various outlets including Bloomberg reported that Twitter was in the ‘final stretch’ of negotiations for the sale, which could rank as one of the biggest leveraged buyouts of a listed company ever.
As reports came in that a deal on the buyout had been reached, the Tesla CEO tweeted to say he hoped his ‘worst critics’ on Twitter – where he is known for his outspoken and sometimes slightly bizarre ramblings – would remain on the platform.
Musk said: “I hope that even my worst critics remain on Twitter, because that is what free speech means.”
Musk initially announced he’d be offering $41.39 billion (£31bn) for the social media platform – a figure that works out as around $54.20 (£41) per share.
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Twitter released a statement on 14 April confirming it had received the proposal, saying: “The Twitter Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders.”
Musk then revealed he'd increased his offer by securing $46.5 billion (£35.6bn) in financing, $21 billion (£16.5bn) of which is said to be his own money, along with a further $12.5 billion (£9.81bn) coming from a margin loan secured against his shares in Tesla.
It seems the 50-year-old businessman is confident in his abilities to run the popular app, stating in a previous letter to Twitter chairman Bret Taylor: "Since making my investment I now realise the company will neither thrive nor serve this societal imperative in its current form.
"Twitter needs to be transformed as a private company. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder."
He also recently spoke to TED founder Chris Anderson about his desire to buy Twitter and what he would like to do with it, explaining: "I think it's very important that there will be an inclusive arena for free speech.
"Twitter has become kind of the de facto town square. It's really important that people have the reality and the perception that they're able to speak freely, within the bounds of the law."
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