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Tesla's Elon Musk proposes $43.4 billion takeover of Twitter; has 'no confidence' in management

( April 14, 2022, 11:08 GMT | Official Statement) -- MLex Summary: Tesla and SpaceX's founder Elon Musk has offered to take over Twitter by buying 100 percent shares of the company for $54.2 a share, effectively valuing the company at $43.4 billion, an SEC filing published today showed. The move comes just days after he declined the invitation to join the social media platform's board after becoming its largest minority shareholder with 9.1 percent of shares. In a letter to the company, Musk said the platform needed 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 added, saying he had "no confidence in management" of the platform.The SEC filing is attached....

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