Billionaire Elon Musk has offered to buy Twitter for about $41 billion, just days after rejecting a seat on the social media company’s board. Musk’s offer price of $54.20 per share, which was disclosed in a regulatory filing on Thursday, represents a 38% premium to Twitter’s April 1 close, the last trading day before the Tesla CEO’s more than 9% stake in the company was made public.
Twitter’s shares jumped 12% in premarket trading.
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
“Since making my investment I now realise the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” Musk said in a letter to Twitter Chairman Bret Taylor.
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk said.
Earlier this week, Musk said he had abandoned a plan to join Twitter’s board, just as his tenure was about to start. Taking the board seat would have prevented him from a possible takeover of the company.
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘444470064056909’);
fbq(‘track’, ‘PageView’);
English
Hindi
Malayalam