On March 14, Musk obtained a stake of slightly over 9% in Twitter. However, his proposal to purchase the remaining shares at $54.20/share or $43 billion, which exceeds Twitter's present market value of nearly $36 billion, has yet to be approved by the company.
Reportedly, Twitter has been on the acquisition radar of various companies ranging from Disney to Salesforce for several years. However, all such attempts to buy the social media platform have been unsuccessful. Last week, the New York Post revealed that private equity firm Thomas Bravo, which owns software firms such as McAfee, is now vying to acquire Twitter. Additionally, Yahoo's parent company has also joined this consortium of bidders.