Elon Musk, the CEO of TESLA, an electric carmaker has made a cash bid to buy Twitter for $41.3 billion.
Following Musk’s announcement, Twitter’s stock jumped more than 12% in pre-market trade. Elon Musk purchased a 9.2 percent interest in Twitter for an estimated $2.89 billion earlier this month, shortly after announcing his appointment to the company’s board of directors. However, a few days later, CEO Parag Agrawal stated that a board post was no longer on the table.
“I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter, and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk said in a statement.
Because of the Tesla CEO’s well-known interest in bitcoin, his pronouncements often cause a stir in the cryptocurrency community. Following the news of Musk’s Twitter investment, the meme-based cryptocurrency dogecoin jumped 11%.
In recent months, Twitter has also developed itself as a crypto-friendly platform, adding the ability to send tips in bitcoin in September and extending the feature to ether in February.
