BREAKING: Elon Musk offers to buy Twitter — follow all the developments live

So yeah, Elon Musk ants to buy Twitter. He’s offering to take over the social media meets microblogging side for $41 billion. 

In a regulatory filing, as Reuters reports, Musk offered a price of $54.20 per share. The billionaire already has a 9% stake in Twitter. 

“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,” Musk said in a letter to Twitter Chairman Bret Taylor.

“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.”

Somewhat ironically, Elon Musk has been very quiet about this bid to buy Twitter. Usually, he’s a very active tweeter, sometimes offering insight and other times tweeting some bizarre thoughts. 

Had Musk tweeted that he wants to buy Twitter, we may have called it nonsense But as he’s gone down the regulatory filing route, there’s more than a hint of legitimacy to all this. 

So how did Musk get to this point? Well he was due to take a seat on Twitter’s board, which he revealed last week after contradicting a regulatory filing that said he was just a passive investor in Twitter. 

On April 5, Twitter CEO Parag Agrawal tweeted that Musk would be appointed to the board. “Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” Agrawal said. 

“He’s both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!” 

But that wasn’t to be…

In the run up to Musk taking a Twitter board seat, he tweeted some criticizm of the social media site, noting that it’s top 10 most followed accounts rarely posted content. 

“Is Twitter dying?” the Tesla CEO asked. 

Over the weekend, Musk then continued to tweet some rather crazy ideas about where Twitter could go and how it could be renamed Titter…yes really. 

These tweets were then deleted, but not before the likes of the Wall Street Journal saw them. 

Now oddball tweeting is kinda Musk’s MO, but this seemed to rub the Twitter bigwigs up the wrong way.