In short, he can but the ball right now is in the board's court. They can accept his offer (in which case the shares are recalled by the company at $54.20) or they can refuse.
If they refuse, Elon can try to buy a 50.1% stake on the open market. Attempting to do so would be... expensive.
In short, he can but the ball right now is in the board's court. They can accept his offer (in which case the shares are recalled by the company at $54.20) or they can refuse.
If they refuse, Elon can try to buy a 50.1% stake on the open market. Attempting to do so would be... expensive.