Elon Musk offers to buy Twitter, take it private

Tesla CEO Elon Musk offered to buy Twitter for $54.20 per share

Tesla CEO Elon Musk offered to buy Twitter in a deal worth more than $43 billion and take the social media company private.

Musk’s best and final offer was 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.

MUSK CALLS OUT TAYLOR SWIFT, JUSTIN BIEBER FOR RARELY TWEETING: ‘IS TWITTER DYING?’

Musk recently disclosed a 9.2% stake in Twitter, but he rejected an offer to join its board of directors and criticized the social media platform in tweets.

Ticker Security Last Change Change %
TWTR TWITTER INC. 37.16 +1.40 +3.91%
TSLA TESLA INC. 658.80 +30.64 +4.88%

He wrote in the filing that he'd want to "transform" the social media platform as a private company.

Elon Musk is seen in a photo illustration. (Jim Watson/AFP via / Getty Images)

ELON MUSK FACES SHAREHOLDER LAWSUIT OVER DELAY IN DISCLOSING TWITTER STAKE

"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," Musk wrote. "However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form."

  (Thomas Trutschel/Photothek via / Getty Images)

Musk said the takeover attempt is "not a threat, it's simply not a good investment without the changes that need to be made."

CLICK HERE TO READ MORE ON FOX BUSINESS 

This is a breaking news story; check back for updates.