Elon Musk’s ‘Bumper Offer’ to buy Twitter!

Days after rejecting a seat on the social media company Twitter’s board, Tesla CEO and billionaire Elon Musk has offered to buy the company for a whopping $ 41.39 billion (That’s roughly Rs 3,27,421.35 crore). This news leaked with Musk filing the offer with the US Securities and Exchange Commission.

In the filing the world’s richest man offered to pay $54.20 (roughly Rs. 4,120) per share in cash and that’s above 38 percent from Twitter’s April 1st’s the last trading day. However the ball is in Twitter’s court whether to accept this offer from Musk.

In case Twitter declines Musk’s offer, the Tesla CEO is in thoughts to reconsider his position as a shareholder. Ten days back Musk’s over nine percent investment in the company was publicly announced and then Musk suggested Twitter to bring in the edit button and he ran a poll too.

Nevertheless with Musk’s ‘bumper offer’ to Twitter, the shares of the company jumped 12 percent in the early trade.