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Billionaire Elon Musk announced a bid yesterday to acquire Twitter for $54.20 per share, an all-cash deal reportedly valued at approximately $43B. The news comes just over a week after he revealed the purchase of a 9.2% stake, making him the largest individual owner of the social media platform. 

The Telsa and SpaceX CEO has a storied history with Twitter, including claims his tweets have unduly influenced the stock prices of a number of companies. He has criticized the company for restricting free speech and—after becoming the largest shareholder—questioned whether it was a dying platform. Musk reversed a decision last week to join Twitter’s board, which would’ve capped his total possible ownership at 14.9%. 

Despite averaging more than 200 million daily active users, the company has seen slow growth in recent years, which in part led to the departure of former CEO and founder Jack Dorsey.

Twitter said it was reviewing Musk’s offer.