On April 14, the media reported that Elon Musk offered to buy Twitter at a cost of $54.2 per share. It became known from the documents SEC.
Based on the information provided in CNBCTwitter issued 800.64 million shares – the value of the transaction, if approved, will exceed $43 billion.
As part of the takeover, Musk hired investment bank Morgan Stanley as a financial advisor.
Musk called this proposal “the best and final.”
But Justin Sun decided to outbid Musk’s offer – the founder of Tron said he was ready to acquire Twitter at a price of $60 per share.
I believe Twitter?ref_src=twsrc%5Etfw">@Twitter is far from unleashing its full potential, thus I am offering $60 per share to take the platform private. But we fully support the reform initiatives of @elonmusk and would love to see Twitter becoming crypto-native and Web3 friendly.
— HE Justin Sun 🅣🌞🇬🇩 (@justinsuntron) April 14, 2022
Earlier, amid Musk’s statement Twitter shares rose 11% in premarket trading on the New York Stock Exchange. At the time of writing, the stock is trading near $47.34.