Billionaire Elon Musk offers Sh4.79 trillion to buy Twitter

musk

Tesla CEO Elon Musk reacts during the unveiling of the new Tesla Model Y in Hawthorne, California on March 14, 2019. AFP PHOTO | FREDERIC J. BROWN

Billionaire Elon Musk has offered to buy Twitter for about $41 billion (Sh4.79 trillion), just days after rejecting a seat on the social media company's board.

Musk's offer price of $54.20 per share (Sh6257.39), which was disclosed in a regulatory filing on Thursday, represents a 38 percent premium to Twitter's April 1 close, the last trading day before the Tesla CEO's more than 9 percent stake in the company was made public.

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