Elon Musk offers to buy 100% of Twitter at $54.20 per share
Musk sent a letter to Twitter Chairman Bret Taylor offering to buy the entire company.
While some Twitter users voiced their outrage at reports that Elon Musk had made a formal offer to purchase Twitter, many others celebrated the news, hailing it as a potentially positive development for the Silicon Valley-based tech company.
On Thursday, Musk offered to pay $54.20 per share for 100% of Twitter, and said that if his offer was not accepted he’d have to reconsider his position as a shareholder, according to an SEC filing. He wrote in the filing that he'd want to "transform" the social media platform as a private company.
To some, Musk’s offer was too good for Twitter to pass on.
ELON MUSK OFFERS TO BUY TWITTER, TAKE IT PRIVATE
Barstool Sports Founder David Portnoy called the offer a "no-brainer" and indicated that the only reason to pass would be because the shareholders don’t like the Tesla CEO as a person.
"If the board of directors at @Twitter reject the offer made by @elonmusk, then wouldn’t the board be acting in direct opposition to the financial interests of their shareholders?" Claremont Institute Communications Director Nick Short asked in a tweet.
FILE PHOTO: Tesla Inc. founder Elon Musk speaks in Hawthorne, California, U.S. December 18, 2018. (Robyn Beck/Pool via REUTERS//File Photo)
"Yep. It will be difficult for Twitter to reject an all-cash offer for a premium of nearly 50% over what the stock was worth before Musk got involved. At this point, you have to assume Twitter’s corrupt board is begging the Biden admin to block the whole thing for them," responded The Federalist CEO Sean Davis.
Townhall columnist Derek Hunter made a similar comment, even claiming that denying Musk’s offer would "violate" Twitter’s "fiduciary duty" to shareholders.
Many others cheered on Musk, with some taking the opportunity to dunk on Twitter and those who oppose a Musk takeover.
"I don't think people realize that if Elon Musk burns Twitter to the ground and renders it irrelevant - that's also a good thing!" Tablet CTO Noam Blum tweeted out.
TWITTER LEFTISTS LOSE IT AFTER ELON MUSK OFFERS TO BUY THE SOCIAL MEDIA GIANT: 'I AM FRIGHTENED'
"The left wing blue check panic over [Musk] buying Twitter is glorious," OutKick's Clay Travis wrote, calling out "blue checks" who said people who didn't like Twitter could just leave.
Twitter's board has announced that they have received Musk's offer and will review it "carefully."
FOX Business' Stephen Sorace contributed to this report.
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