ELON Musk has launched a hostile takeover of Twitter.
The billionaire Tesla chief has offered to buy the social media giant for $43billion in cash, regulatory filings showed on Thursday.
1
The mega-bid comes days after Musk made the surprise purchase of a nine per cent stake in Twitter, which has 200million users.
Twitter CEO Parag Agrawal announced that the 50-year-old would join the board of directors, an offer that Musk later declined.
An updated filing on Thursday revealed that the 50-year-old is making his “best and final” offer to buy 100 per cent of Twitter.
He’s offering $54.20 per share in cash.
The Musk whirlwind kicked off in April when he slammed the social network for how it handles free speech on its platform.
Most read in News Tech
Weeks later he took the internet by surprise, announcing he had taken almost 10 per cent in the company worth $2.9billion.
The move made him Twitter’s largest investor.
And complaining about the need for a much-desired edit button, Twitter bowed and revealed one was coming.
Musk was set to join the firm’s board, but sensationally decided not to days later.
His position on the 11-person board would have expired in 2024.
Over the weekend, Musk sent out a flurry of tongue-in-cheek tweets to his 80million followers about changes he planned to make.
They included turning Twitter’s HQ into a homeless shelter and changing the company’s name to “Titter”.
He later deleted the posts.
More to follow...
Best Phone and Gadget tips and hacks
Looking for tips and hacks for your phone? Want to find those secret features within social media apps? We have you covered…
We pay for your stories! Do you have a story for The Sun Online Tech & Science team? Email us at [email protected]
