Update (April 16, 13:30 UTC): As a response measure to block Elon Musk’s proposed buyout offer, Twitter's board adopted a new emergency plan, which gives certain shareholders the right to purchase more stock.

Elon Musk offered to buy 100% of Twitter, The Verge reports. This is his "best and final" offer, according to his SEC filing.

Musk is ready to buy all the shares he currently doesn't own for $54.20 per share (is 4.20 there a coincidence?). It's much higher than the price on the day the businessman began investing in the company.

Musk explains that Twitter should be transformed into a private company to unlock its 'extraordinary potential'. If his offer will not be accepted, Musk will 'reconsider' his position as a shareholder.

In previous episodes: Elon declined to join Twitter board