Elon Musk launches hostile takeover bid for Twitter

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AFP

San Francisco (AFP) – 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, which values the social media firm at $43.4 billion, in a filing dated Wednesday April 13 with the Securities and Exchange Commission. Musk’s latest move towards Twitter comes just days after he turned down a seat on the board following his acquisition of a 9.2 percent stake in the microblogging platform. “I invested in Twitter as I believe in its potential to be the platform…

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