Tesla chief executive Elon Musk has offered to buy social media microblogging site Twitter for about $41 billion cash, this days after the billionaire rejected an offer to join its board.
According to the analysts, a board berth would have limited his stack to just under 15 per cent in the company. While making the offer, Musk said the social media platform needed to go private to witness effective changes.Musk’s offer 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 the Tesla CEO’s more than 9% stake in the company was made public.From announcing a nine per cent stake in the platform to ultimately offering buy it, Elon Musk has grabbed a lot of headlines in the last few days.
