Elon Musk offers to buy Twitter for $41b in cash

Elon Musk offers to buy Twitter for $41b in cash

Elon Musk. Photographer: Justin Chin/Bloomberg

Elon Musk has offered to buy Twitter for about $41 billion in cash, saying the social media company he has often criticised needs to go private to see effective changes.

Musk’s price of $54.20 per share, which was disclosed in a regulatory filing on Thursday, represents a 38% premium to Twitter’s April 1 close, the last trading day before Tesla CEO’s more than 9% stake in the company was made public.

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