Tesla CEO Elon Musk offers to buy Twitter offers 54.20 dollars per share
Tesla Chief Executive Officer (CEO) Elon Musk has offered to buy Twitter. A few days ago, he had said that he would no longer be on the board of directors of the social media company. Musk currently owns more than nine percent of Twitter’s shares.
He is the largest shareholder of the company. Twitter told the stock exchange on Thursday that Musk sent a letter to Twitter on Wednesday, offering to buy the rest of the company’s shares. Musk has offered $54.20 for each Twitter share.
“I invested in Twitter because I believe in being a platform for free expression around the world, and I believe the free expression is the key to a functioning democracy,” Musk said in a stock exchange briefing. It is imperative.”
He added, “However, after making my investment, I realized that the company in its present form will neither grow nor fulfill this social imperative. Twitter needs to be turned into a private company.” Before the market opened, Twitter’s shares saw a jump of about 12 percent.
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