Elon Musk offered to buy Twitter for $54.20 a share in a filing published, saying the social media company needs to be transformed privately, a little over a week after revealing a 9.1% stake in the company. Musk’s offer values Twitter at about $43 billion.
Twitter shares closed down 1.68% on Thursday. Tesla’s stock dipped more than 3.6% on the news.
According to Musk, the social media company needs to go private because it can “neither thrive nor serve” free speech in its current state.
Source: www.cnbc.com
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