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.
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.
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.
Twitter has extraordinary potential. I will unlock it.
I don't know the ropes of hostile corporate takeovers, as I haven't done any in a very long time, but certainly Elon knows what he's doing. If he refuses and walks away, then the 9% shares he holds potentially hits the market and pushes share prices lower, and the market being aware of that would see selling in advance even before he sells a single one. So shareholders have a choice of accepting this offer or seeing their share values plunge to prices far lower than that.
So they get to choose how principled they want to be. That's my highly inexperienced guestimate on what's going on.