At the beginning of April, it was officially announced that Elon Musk became the largest shareholder of Twitter and since then he owns as much as 9.1% of Twitter shares. Musk was then included in the company's management board, but at the same time a limit of shares was imposed on Musk. It was agreed that a maximum of a businessman would be able to own 15% of the company's shares, to which Musk himself agreed. Ultimately, however, after a few days, he changed his mind, officially submitting an offer to buy 100% of the company's shares to other shareholders.
Musk offered shareholders 54.20$ per share, which translates to more than 41 billion of dollars in the cost of the entire Twitter share buyback transaction. The businessman announces that this is the final offer and he doesn't intend to change it. From the financial point of view, this offer is quite interesting, as the proposed rate is higher than the share price after the close on 1st of April by approximately 38%. According to Musk, the purchase of the company by a private entity will allow for the development of the portal, taking into account the creation of the option to edit the tweet, but also, in Musk's opinion, the appropriate decision would be to reduce moderation on the portal.