Tesla Chief Elon Musk Offers To Buy Social Networking Platform Twitter
Tesla CEO's offer price per share represents a 38 per cent premium to Twitter's April 1 closing price.
In a tweet, Musk had said, "I made an offer." he said, adding, “Twitter has extraordinary potential. I will unlock it.” Tesla's boss disclosed earlier this month that he owns a 9.2% stake in the platform.
Twitter has stated that its Board of Directors is reviewing the proposal carefully.
The billionaire has been vocal about Twitter's failure to adhere to the "principle of free speech."
If Twitter doesn't accept Musk's offer, he claims he has Plan B. Musk didn't offer any details about his next move.
Even though Mr. Musk owns more than 9% of the social media platform, he is no longer its biggest shareholder.
Vanguard Group, an asset management firm, announced on 8 April that its funds now hold a 10.3% stake in Twitter.
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