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Memelord wants to buy all of Twitter at $54.20 a share

The saga, and it is indeed a saga at this stage, between Elon Musk and Twitter continues to drag on.

The latest development this week following a lawsuit being filed against Musk for not disclosing stock purchases, is his intention of purchasing 100 percent of Twitter.

To that end Musk has issued his “best and final” offer to purchase the social media platform, with documentation filed with the US Securities and Exchange Commission noting that he aims to, “acquire all of the outstanding Common Stock of the Issuer not owned by the Reporting Person for all cash consideration valuing the Common Stock at $54.20 per share.”

As The Verge points out, the self-proclaimed memelord could not miss the opportunity to feature 420 somewhere in the bid.

“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. Twitter has extraordinary potential. I will unlock it,” he laid out in a letter sent to Twitter earlier this week.

“I would need to reconsider my position as shareholder,” he added as a potential warning following his recent purchase of 9.2 percent in stock.

Whether such an offer would be accepted remains to be seen, but it looks Twitter will at least look it over.

This as the company has since issued a statement on the matter acknowledging that, “it has 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.”

“The Twitter 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,” the brief statement concluded.

Whether Musk is indeed the man who can unlock Twitter’s “potential” is unclear. For now though, he is extremely obsessed with the platform.

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