Elon Musk Twitter offer: Saudi Prince Alwaleed rejects bid

Published by
Al-Araby

Saudi Arabian investor Prince Alwaleed bin Talal said on Thursday that as one of the major shareholders in Twitter he rejected a takeover bid by billionaire entrepreneur Elon Musk. “I don’t believe that the proposed offer by Elon Musk ($54.20 [per share]) comes close to the intrinsic value of Twitter given its growth prospects,” the prince said in a tweet. Musk took aim at Twitter Inc with a $43 billion cash takeover offer on Thursday, with the Tesla CEO saying the social media giant needs to be taken private to grow and become a platform for free speech. I don’t believe that the proposed offe…

Read More