Tesla chief Elon Musk has launched a hostile takeover bid for Twitter, offering to buy 100 percent of its stock and take it private, according to a stock exchange filing.
Musk offered $54.20 a share, a 54 percent premium over the January 28 closing price, in a filing dated Wednesday April 13 with the Securities and Exchange Commission.
This comes days after it emerged that the eccentric billionaire had become the majority shareholder in Twitter, acquiring 11% stake.
But his relationship with the tech firm is not the smoothest as it was later announced that he would not be a part of the board.
OFFER BELOW:
https://www.sec.gov/Archives/edgar/data/0001418091/000110465922045641/tm2212748d1_sc13da.htm