Elon Musk says on April 13, 2022, delivered a letter to $Twitter(TWTR.US)$ which contained a non-binding proposal to acquire all of Twitter stock not owned by the reporting person for all cash consideration valuing the stock at $54.20/share.
Elon musk says that Twitter should be private to go through the changes that need to be made. Musk says if the offer is not accepted, "I would need to reconsider my position as a shareholder."
Twitter stocks jumped nearly 12% on the proposal in premarket trading.
Updates
Twitter confirmed 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.