Twitter Shares Soar As Elon Musk Offers To Buy 100% Of Social Media Giant

The multi-billionaire entrepreneur has said he will “acquire all of the outstanding Common Stock of the Issuer not owned by the Reporting Person for all cash consideration valuing the Common Stock at $54.20 per share.” 

The proposal was delivered via a letter to Twitter on 13 April, with Musk saying that Twitter needs to go private in order for necessary changes at the company to occur. 

Musk has said that he would need to reconsider his position as a shareholder if Twitter does not accept his offer.

Following the news, Twitter shares are up over 13%. 

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