Twitter and Elon Musk's saga went a long way when Elon Musk, filed by the SEC, made an offer to buy Twitter. The billionaire said he was willing to pay $ 54.20 a share to buy 100% of the company. It is a cash offer and will provide the social network with a value of $ 43.4 billion.

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“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,” wrote Elon Musk. in an email to Bret Taylor, the chairman of Twitter. Board of Directors (and CEO of Salesforce). The email was reproduced today by SEC. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”

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“As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he added.

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In pre-launch trading, Twitter shares are now trading at $ 50.97 a share, a jump of 11.97% compared to yesterday's closing price.

Twitter on April 4 confirmed that Musk had acquired a significant stake in the social network. By purchasing a 9.2% stake in the company, Musk became Twitter's largest shareholder.

One time Twitter announced that a businessman best known for his work at Tesla and SpaceX would join the board. As a member of the Board of Directors, Musk will not own more than 14.9% of the company.

But Twitter CEO Parag Agrawal later announced a major change. Musk told the company he would not join the board. Since then, there has been a lot of speculation about Musk's next move.

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Many people think that a billionaire will start badly if he is rejected for a seat on the council. Musk is now the richest man in the world. According to Forbes, it is now worth $ 273.6 billion. Buying Twitter will be a big investment for Musk, but it can be.

To date, Twitter has not received a public response to the takeover bid.