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

Homebuyer mortgage demand drops further, a troubling sign for the spring market
Texas job growth to slow slightly this year, Dallas Fed says
Key Congressional staff meet with BDA, mum on tax exemption
Stocks making the biggest moves after hours: Amazon, Pinterest, Expedia and more
Muni market takes a breather as inflows continue