Twitter Share Price Jumps 12% in Pre-Market As Elon Musk Announces 100% Buyout Interest $TWTR

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Elon Musk

The world’s richest man, Elon Musk is trying to buy 100 percent of microblogging platform Twitter at $54.20 per share and take the company private.

In a tweet on Thursday, the Tesla CEO revealed details of a filing to the US Securities and Exchange Commission (SEC).

He wrote:

Musk’s bid to buy 100 percent of Twitter, if successful, will set him back by $43 billion.

The filing contained a proposal to the Bret Taylor-led Board of Twitter offering to buy the popular social media giant.

A copy of the proposal is reproduced below:

Elon Musk - Twitter

Meanwhile, Twitter’s share price opened at $45.85 per share on the New York Stock Exchange (NYSE) but jumped by 12 percent to $51.63 following the announcement.

Elon Musk - Twitter

Details later…

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John is a University of Lagos-trained journalist who has read almost every novel written by Chinua Achebe, Jeffrey Archer and Dan Brown. He's an expert Scrabble and draughts player who is also excellent at swimming.
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