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

Alexei Navalny, Russian opposition activist, 1976-2024
EU to hit Apple with first ever fine in €500mn music streaming penalty
Feds propose 15 long-distance intercity train lines
2 out of 5 industrial stocks are at record highs. Here’s our post-earnings outlook on all of them
Investors sit back ahead of primary slate, FOMC minutes