“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,” Musk said in the filing. “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.”

Tesla CEO Elon Musk is offering to buy Twitter, saying the social media platform he has criticized for not living up to free speech principles needs to be transformed as a private company.

Twitter Inc. said in a regulatory filing on Thursday that Musk, currently the company’s biggest individual shareholder, has proposed buying the remaining shares of Twitter that he doesn’t already own at $54.20 per share, an offer worth more than $43 billion.

Musk called that price his best and final offer, although he provided no details on financing. The offer is non-binding and subject to financing and other conditions.

“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,” Musk said in the filing. “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.”

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