[Archyde.com]-Elon Musk, CEO of US electric car giant Tesla, has proposed to buy US Twitter for regarding $ 41 billion in cash.
It will buy all the shares for $ 54.20 per share, adding 38% to the closing price of the day, the day before Mr. Musk’s large holdings were revealed. He holds more than 9% of Twitter shares.
Twitter’s share price rose 12% in following-hours trading before the start of trading on the 14th.
“I understood following investing that the company wouldn’t grow as it is and mightn’t meet social demands,” Musk said in a letter to Twitter Chairman Bret Taylor. “Twitter is a privately held company. It needs to be reborn as. “
“This proposal is the best and final, and if it is unacceptable, we need to rethink our position as a shareholder.”
