Elon Musk Offers 41 Billion Dollars to Buy Twitter
Washington [US]: On Thursday, Billionaire and Tesla CEO Elon Musk offered a “best and final” bid to purchase 100 percent of microblogging site Twitter for USD 41.39 billion with USD 54.20 per share in cash. So, Elon Musk offers 41 Billion Dollars to buy Twitter.
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Elon Musk Offers 41 Billion Dollars
The world’s richest man made the offer in an updated 13D filing on Thursday following Twitter’s announcement that Musk will not be joining the company’s board of directors.
So, The Tesla chief executive’s offer price of USD 54.20 per share was 38 percent higher than the closing price of Twitter’s stock on April 1, the last trading day before his investment of 9.2 percent in the company was publicly announced, reported Sky News.
Letter send to Twitter chairman Bret Taylor
“Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form,” said Musk in a letter to Twitter chairman Bret Taylor.
“Twitter needs to be transformed as a private company,” he added. Earlier last week, Musk disclosed that he had taken a nine percent stake in the social media platform. So, “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” said Tesla CEO.
So, The offer comes after Musk rejected a seat on the social media company’s board. Sky News reported that taking the board seat would have stopped him from a possible takeover of the company. (ANI)
