Elon Musk launches hostile bid for Twitter at $43bn valuation

News

Elon Musk has made an offer to buy Twitter with a bid that values the company at $43.4bn, a move that could turn the Tesla chief executive into a social media mogul.

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.

The entrepreneur announced the offer on Thursday in a filing with the US Securities and Exchange Commission.

The filing said the $54.20 a share offer was a 38 per cent premium to the share price on April 1, the day before his share purchases became public.

This story is developing . . .

Articles You May Like

Buy This Tech Stock Before Earnings for Big Long-Term Upside?
China rebukes west over military moves after close call in Taiwan Strait
Trump says he has been indicted on federal charges in documents probe
Elf Beauty (ELF) and Uranium Energy (UEC) are Aggressive Growth Stocks
Tornado Cash 2.0: The race to build safe and legal coin mixers