Washington DC, 14/4: Elon Musk has made a “best and final” offer to buy Twitter Inc., saying the company has extraordinary potential and he will unlock it.
The world’s richest man will pay $54.20 per share in cash, representing a 54 per cent premium over the Jan 28. closing price and a value of about $43 billion. The social media company’s shares soared 18 per cent.
Musk, 50, announced the offer in a filing with the US Securities and Exchange Commission on Thursday. The billionaire, who also controls Tesla Inc., first disclosed a stake of about 9 per cent on April 4.
The billionaire revealed in regulatory filings over recent weeks that he’d been buying shares in almost daily batches starting Jan. 31.
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