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Elon Musk on Wednesday offered to personally acquire Twitter in an all-cash deal valued at $43 billion. Musk laid out the terms of the proposal in a letter to Twitter Chairman Bret Taylor that was reproduced in an SEC filing.
Twitter confirmed receipt of the offer in a Thursday morning press release. "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 company wrote.
Musk has been accumulating shares in Twitter since January. Last week, he revealed that he had accumulated 9.2 percent of outstanding Twitter shares, making him the company's largest shareholder.
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