Elon Musk offers to buy Twitter for US$ 41 billion

Elon Musk further stated that the offer made is his best and final.

Tesla CEO, Elon Musk has offered to buy Twitter for US$ 41 billion, as per a recent regulatory filing.

Musk's offer price stands at $54.20 per share - a 38% premium from the company's closing price on April 1, the day before Elon's 9% stake in Twitter was made public. Elon Musk even declined to join Twitter's board earlier this week. This move is said to have signalled his plans to take over the company, as a board seat would have limited Musk's stake to under 15%.

The Tesla CEO stated that the social media organisation needs to be transformed into a private company for it to "thrive" and grow. Elon Musk further stated that the offer made is his best and final. If declined, Musk will reconsider his position as a shareholder.

Source: Reuters