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

Pension allowance to rise for higher earners
Stocks making the biggest moves after hours: FedEx, First Republic Bank and more
Want to invest in companies that empower women? Here’s what you need to know
UBS offers to buy Credit Suisse for up to $1bn
More than 5 million households still behind on rent — what to do if yours is among them