Elon Musk offers to buy Twitter for $41 billion

Thursday, 14 April 2022 (1 month ago) 18 views
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Billionaire Elon Musk Purchased Twitter About $41 billion was denied on the social media company’s board just days later.

The offer price of $54.20 a share, disclosed in a regulatory filing on Thursday, represents a 38% premium to Twitter’s closing price on April 1, the last trading day before Twitter. Tesla More than 9% of the company’s shares held by the CEO was made public.

Shares of Twitter rose 12% in premarket trading.

Also read: Why Windows users can skip Microsoft’s April 2022 Update

“Since making the investment, I now realize that the company will neither thrive nor serve this societal need in its current form. Twitter needs to transform into a private company,” Musk told Twitter Chairman Brett Taylor said in a letter.

“My offer is my best and final offer, and if it is not accepted, I will need to reconsider my position as a shareholder,” Musk said.

Earlier this week, Musk said he had abandoned plans to join Twitter’s board when his term was about to begin. Taking a board seat would prevent him from buying companies.

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