https://techcrunch.com/2022/04/21/we-just-found-out-how-elon-musk-may-finance-his-43b-twitter-bid/

In an SEC filing today, Elon Musk indicated that Twitter has yet to respond to his offer to buy the company, and that he is “exploring whether to commence a tender offer to acquire all of the outstanding shares.” Recall that Twitter has itself adopted a poison-pill defense of its equity in light of Musk’s unsolicited bid.

The filing also details how Musk intends to pay for Twitter. Recall that his offer is worth $54.20 per share in cash, valuing the company at around $43.4 billion. The serial entrepreneur’s bid represents a premium to Twitter’ value today, but lands far beneath the company’s 52-week stock market high of $73.34 per share; shares of Twitter traded even higher in early 2021, leaving some room for Musk’s bid to be considered modest, despite its present-day premium.