Elon Musk offers to buy Twitter for $43 billion.
Elon Musk sends Twitter stock price soaring with hostile takeover ‘best and final’ offer of $43 billion.
Musk said he believes in the promise of Twitter to be a platform for free speech, but does not have confidence in its management to fulfill that mission.
"My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder," Musk continued.
He holds more than 9% of Twitter's shares, and some analysts expect if he were to sell his stake, that could trigger a sharp sell-off.
Musk offered $54.20 a share, which values the social media firm at $43.4 billion, in a filing dated Wednesday April 13 with the Securities and Exchange Commission.