[NYSE: TWTR]: Elon Musk is seriously considering buying Twitter, according to Twitter. Twitter stated it received “an unsolicited, non-binding proposal from Elon Musk to acquire all of the Company’s outstanding common stock for $54.20 per share in cash” in a statement to the media.
Musk claimed that its cash offer of $54.20 per share is the greatest deal for Twitter and justified it by claiming that the cash offer is the best deal for Twitter, “a 54% premium over the day before he began investing in Twitter and a 38% premium over the day before his investment was publicly announced.”
Musk further clarified that he will not be juts mute shareholder in Twitter. “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 in its response said that “the 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.”