Businessman Elon Musk has offered to buy Twitter, saying the social media giant “needs to be transformed as a private company.”
He is already Twitter’s largest shareholder, owning more than 9% of the company, and a regulatory filing showed he offered $54.20 per share to buy the rest.
That price would value the company at about $43 billion and represents a 38% premium above the stock’s closing price on April 1, the last trading day before Musk bought his 9%.
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk said.
Some information for this report came from The Associated Press and Reuters.