In an unexpected declaration, Mr Musk said he would pay $54.20 an offer for Twitter, esteeming it at about $40bn.
It as of late arisen that Mr Musk was Twitter’s greatest investor after he developed an enormous stake in the firm.
That’s what he said in the event that his deal was not acknowledged: “I would have to rethink my situation as an investor”.
Twitter’s portion cost rose bounced by 5.3% to $48.32 in early exchanging, prior to falling back to more than $46.20 later on.
A documenting with the US monetary controller seemed to show message and additionally voice messages from Mr Musk to Twitter’s board, showing that he had raised the thought at the end of the week that the business ought to go private.
In the messages distributed in the documenting, Mr Musk said he was not “playing the volatile game” and said of his proposition: “It’s an exorbitant cost and your investors will adore it.”
He said he would need to sell his portions on the off chance that the arrangement didn’t go through.
“This isn’t a danger, it’s essentially not a wise venture without the progressions that should be made,” he added.
Victoria Scholar, head of speculation at Interactive Investor, said: “This is a profoundly antagonistic move from Elon Musk who has taken steps to ‘rethink’ his 9.2% stake in the organization in the event that his 100 percent securing offer is dismissed.”
In his documenting with the US Securities and Exchange Commission, Mr Musk said he had put resources into Twitter since “I put stock in its capability to be the stage with the expectation of complimentary discourse all over the planet, and I accept free discourse is a cultural basic for a working majority rule government.
“Nonetheless, since making my venture I presently understand the organization will neither flourish nor serve this cultural basic in its ongoing structure. Twitter should be changed as a privately owned business.”
He added: “Twitter has remarkable potential. I will open it.”
Twitter said its board “will cautiously audit the proposition to decide the game-plan that it accepts is to the greatest advantage of the organization and all Twitter investors”.
Mr Musk is the world’s most extravagant man, as per Forbes magazine, with a total assets of $219bn generally because of his shareholding in electric vehicle producer Tesla. He additionally drives the aviation firm SpaceX.
Dan Ives, senior value research examiner at Wedbush Securities, said Twitter will either be compelled to acknowledge Mr Musk’s offered or track down another purchaser.
He said: “There will be host of inquiries around supporting, administrative, adjusting Musk’s time (Tesla, SpaceX) before very long however in light of this documenting it is a now or never offered for Twitter to acknowledge.
“At last, we accept this drama will end with Musk claiming Twitter.