Elon Musk offered to buy Twitter for $54.20 a share, saying the social media company needs to be transformed privately.
Highlights
- Elon Musk offers to buy Twitter for $54.20 a share in a filing published Thursday.
- Musk’s offer values Twitter at about $43 billion.
- Twitter shares were up about 4% Thursday morning after closing at $45.85 a share on Wednesday.
- Musk first disclosed his 9.2% stake in Twitter on April 4.
- Twitter’s board will meet at 10 a.m.
- to evaluate the offer, per people familiar with the move, CNBC’s David Faber reports.