Bid for social media company comes after Tesla boss became its largest shareholder
Elon Musk has made an offer to buy Twitter with a bid that values the company at $43.4bn, vowing to “unlock” the potential of the social media platform by taking it private.
Musk’s offer of $54.20 a share comes days after he took a 9 per cent stake in the company, becoming its largest shareholder but rejecting an invitation to join its board.
Musk said his offer represented a 54 per cent premium over the day he began investing in the company and a 38 per cent premium to April 1, three days before his stake building became public.
Read more: FT
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.