Elon Musk and the Twitter Rollercoster

"Best And Final Offer" - Elon Musk Offers To Buy Twitter For $54.20 Per Share
Elon Musk has made a bold move by offering to purchase Twitter for $54.20 per share in cash, according to an updated 13D filing. He told Twitter management this is his "high price" and "if the deal doesn't work," he would "reconsider my position as a shareholder."
The filing read that Musk offered "to acquire all of the outstanding Common Stock of the Issuer not owned by the Reporting Person for all cash consideration valuing the Common Stock at $54.20 per share (which values the company around $43 billion)."
Musk said in the filing if his offer isn't accepted -- he would "reconsider my position as a shareholder." This means he would likely dispose of his stake.
"The Proposal is non-binding and, once structured and agreed upon, would be conditioned upon, among other things, the (i) receipt of any required governmental approvals; (ii) confirmatory legal, business, regulatory, accounting and tax due diligence; (iii) the negotiation and execution of definitive agreements providing for the Proposed Transaction; and (iv) completion of anticipated financing," the filing noted.
Here is the letter Musk sent to Twitter's chairman disclosed in the 13D filing.
Bret Taylor
Chairman of the Board,
I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.
However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.
As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.
Twitter has extraordinary potential. I will unlock it – says Elon Musk
Shares in the social media platform soared as much as 18% on the news.Show more

Listed below are the rollercoaster of events over the few weeks.

We're looking forward to the buyout. However, it remains to be seen if the company sells for $54.20 per share in cash, considering share prices have traded at a higher premium.
Elon Musk's $54.20 per share offer for Twitter Inc. is "too low" for shareholders or the board to accept, Vital Knowledge's Adam Crisafulli said in a report. Crisafulli adds that Twitter's shares was at about $70 less than a year ago. - Bloomberg