enforcement at the heart of the national agenda again. tesla boss elon musk has offered to buy twitter. mr musk said he would pay $54.20 a share for twitter, valuing the firm at $41 billion. he s currently the biggest twitter shareholder after it was revealed last week that he had a 9.2% share. twitter quickly offered elon musk a seat on its board on the condition that he not own more than 14.9% of the outstanding stock. he declined, instead polling his 80 million followers about changes they might want in twitter. in messages published in the filing, mr musk said, it s a high price and your shareholders will love it , and that if his offer was rejected, he d reconsider my position as shareholder . here s michelle fleury. all eyes now turn to the board and how they respond. one of the challenges they face is that this offer values the company at above what they shares have been trading outcome are likely. the price offer is 38% higher than when mr musk s
greg: welcome back. twitter is in a tedder and britney spears the founder of tesla will turn twitter into a big mess law. so within elon s reach. the online holy and twitter come i haven t seen this kind of fuss since i tried to buy a barbie dream house. as we reported, elon musk reversed twitter to join the board with blue checkers high fiving to buy more than 14.9% of the company the cap on board members. so like a cow on growth hormone this steak is about to get bigger. [laughter] this week you enable a scheduled where twitter employees could air their grievances against elon musk. among their worries, elon musk undoing policy against hate speech and misinformation meaning the existence of biological sex or hunter biden s laptop.
twitter abusing it than running it. case in point over the weekend they tweeted a poll asking the same disco homeless should move into twitter s headquarters since most of the staff works remotely. more than 1.9 million people before was deleted but 91% saying, 91%. this like 9-10. that s a must as unanimous as america wanting me to be the sexiest man alive. it s in your court people magazine. so what s up? if he was on the board he couldn t own more than 14.9% of twitter. so is he prepping for a hostile takeover? will he finally returned my late-night taste text messages? come on the show you on wheels have an open seat for you you can stay at my place ibis where bedroom. you guys can share it he only bites to be smell like bacon.
let s talk to alex hern, the uk technology editor at the guardian. thank you forjoining us this afternoon. why is it significant that he has decided not to join the board, what effect does that have? the immediate effect means he is no longer constrained by the board. musk holds 920% of the outstanding shares in twitter, which is a sizeable holding. but in order to join the board he agreed not to buy more than 14.9% and agreed he wouldn t do so within 90 days of leaving the country. that deal is off, which means if you want to, he could launch a hostile takeover, attempt to acquire a controlling stake in the company. those are the things that the ceo of twitter was hinting at it when he said there would be distractions ahead. itruihat hinting at it when he said there would be distractions ahead. what do ou think is would be distractions ahead. what do you think is behind would be distractions ahead. what do you think is behind this, would be distractions ahead. what do you think is
new people who will have been killed in the previous week. brian. the biggest fighting yet to come. alex, thank you so much. great job. ainsley. ainsley: thanks, brian. it twitter issues are dropping on the news that elon musk declined to join the board of directors. it would have prevented twitter s largest stakeholder from owning more than 14.9% of the company stock. vivek ramaswamy is author of the upcoming book and joins us now. good morning. not going to take that seat on the board. that means he can buy as many shares as he wants, right? i ve got to say that i think he will be more effective driving change off the board and on the board. i was personally happy when i saw a elon musk announces 9% stake in the company. i was disappointed when i saw him agreed to give him one board seat. i know how the managerial class