By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ng
  • News
    • Politics
    NewsShow More
    Pressure to get married prompted me to join the army – Buhari
    January 27, 2023
    My son’s death a test from the Almighty — Nasarawa Governor
    January 27, 2023
    FG, Niger Republic sign MOU on Kano-Maradi road
    January 27, 2023
    JAMB Registrar, Is-haq Oloyede
    JAMB registrar, Oloyede denies operating any social media account
    January 27, 2023
    Ademola Adeleke
    Adeleke Rejects Osun Governorship Election Tribunal Verdict, Plans Appeal
    January 27, 2023
  • Entertainment
    EntertainmentShow More
    Yeni Kuti
    Infidelity: I Can Only Leave if My Partner Sleeps with Another Man – Yeni Kuti
    January 27, 2023
    I was shocked when my wife offered to donate kidney – Eedris Abdulkareem
    January 27, 2023
    Ex-boxer Mike Tyson slapped with a fresh rape suit
    January 25, 2023
    Anita
    Paul Okoye’s Ex-Wife Anita Opens Up About Her Struggles with Miscarriage
    January 19, 2023
    Martica "Fat" Nwigwe, Grammy awards 2023 best new artist award nominee Tobe Nwigwe, Brand Manager, Heineken, Azuka Ijenebe, Grammy awards best global music performance award nominee Rocky Dawuni; Founder of Afrozons, Dr. Sheila O; Senior Media, Brand PR & Sponsorships Manager, Nigerian Breweries Plc, Sandra Amachree; Portfolio Manager, International Premium Brands, Nigerian Breweries Plc; Sampson Oloche; at the Afrozons pre-Grammy nomination celebration courtesy of Heineken.
    Sheila O Brings Together African Artists Tobe Nwigwe and Rocky Dawuni to Discuss Grammy Nominations
    January 19, 2023
  • Business & Economy
    Business & EconomyShow More
    Godwin Emefiele
    CBN Introduces Domestic Card to Combat Foreign Exchange Challenges
    January 26, 2023
    Godwin Emefiele
    CBN stands firm on January 31st deadline, says no extension for deposit of old naira notes
    January 24, 2023
    CBN Governor, Godwin Emefiele
    Central Bank of Nigeria Raises Monetary Policy Rate to 17.5% to Combat Inflation
    January 24, 2023
    Mr. Muhammad Nami, Executive Chairman, Federal Inland Revenue Service (FIRS) addressing members of the press at the FIRS HQ, Abuja. January 23, 2023
    Muhammad Nami-led FIRS breaks record with N10.1 trillion tax collection in 2022
    January 24, 2023
    First Oil Well Spud-In in Nasarawa to Commence in March 2023 – Kyari
    January 13, 2023
  • Sport
    SportShow More
    Kolo Toure
    Kolo Toure sacked by Wigan Athletic after winless reign
    January 27, 2023
    Ex-Madrid star, Gareth Bale to make professional golf debut
    January 24, 2023
    Just in: Everton sack Manager, Frank Lampard
    January 23, 2023
    Eddie Nketiah (L) and Bukayo Saka (R) of Arsenal celebrate Nketiah's game-winning goal during the Premier League match against Manchester United at the Emirates Stadium on January 22, 2023. (Photo by Glyn KIRK / AFP)
    Arsenal Secures Hard-Fought 3-2 Victory Over Manchester United
    January 22, 2023
    Chelsea draw Liverpool at Anfield
    January 21, 2023
  • Tech
    TechShow More
    Kashifu Inuwa
    Forbes Recognizes NITDA’s Kashifu Inuwa with Best of Africa Corporate Governance Award
    January 16, 2023
    NCC
    NCC Returns to Television with Telecom Weekly Program
    January 10, 2023
    MTN Nigeria Launches Thryve Ads to Support SMEs in Social Media Marketing
    January 6, 2023
    WhatsApp
    WhatsApp to End Support for Dozens of Devices on Dec 31st, 2022 – See List
    December 29, 2022
    The Redmi K60 Pro: Xiaomi’s Latest 5G Smartphone with a High-Refresh-Rate Display and HDR10+ Support
    December 29, 2022
Reading: Elon Musk offers to buy Twitter
Share
Aa
Okay.ngOkay.ng
Aa
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessTech

Elon Musk offers to buy Twitter

Agency Report with Okay.ng By Agency Report with Okay.ng Published April 14, 2022
Share
4 Min Read
Elon Musk
Elon Musk
SHARE

Tesla chief Elon Musk has launched a hostile takeover bid for Twitter, offering to buy 100 per cent of its stock and take it private, according to a stock exchange filing.

Musk offered $54.20 a share, which values the social media firm at $43.4 billion, in a filing dated Wednesday April 13 with the Securities and Exchange Commission.

Musk’s latest move towards Twitter comes just days after he turned down a seat on the board following his acquisition of a 9.2 percent stake in the microblogging platform.

“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk said in his filing.

- Advertisement -

“However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form,” he said.

“Twitter needs to be transformed as a private company. As a result, 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.”

Musk, Twitter’s biggest shareholder, said his “offer is my best and final offer” and he would reconsider his position as a shareholder if it was rejected.

“Twitter has extraordinary potential. I will unlock it,” he said.

Currently the world’s richest man and with more than 80 million followers on the microblogging platform, Musk last week disclosed a purchase of 73.5 million shares — or 9.2 percent — of Twitter’s common stock. His announcement sent Twitter shares soaring more than 25 percent.

He was offered a seat on the board but turned it down at the weekend.

Musk’s move comes after he tweeted Saturday asking whether the social media network was “dying” and to call out users such as singer Justin Bieber, who are highly followed but rarely post.

“Most of these ‘top’ accounts tweet rarely and post very little content,” the Tesla boss wrote, captioning a list of the 10 profiles with the most followers — which includes himself at number eight, with 81 million followers.

“Is Twitter dying?” he asked.

In other weekend tweets, Musk posted joke polls on whether to drop the “w” from Twitter’s name and on converting its San Francisco headquarters to a homeless shelter “since no one shows up anyway.”

He also suggested removing ads, Twitter’s main source of revenue.

The billionaire tech entrepreneur is a frequent Twitter user, regularly mixing in inflammatory and controversial statements about issues or other public figures with remarks that are whimsical or business-focused. 

He has also sparred repeatedly with federal securities regulators, who cracked down on his social media use after a purported effort to take Tesla private in 2018 fell apart.

TAGGED: Elon Musk, Twitter
Share this Article
Facebook Twitter Whatsapp Whatsapp Telegram Email Copy Link Print
What do you think?
Happy0
Love0
Sad0
Angry0
Joy0
Surprise0

Connect with Okay on Social

Facebook Like
Twitter Follow
Instagram Follow
Telegram Follow
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Pressure to get married prompted me to join the army – Buhari
News
Yeni Kuti
Infidelity: I Can Only Leave if My Partner Sleeps with Another Man – Yeni Kuti
Celebrities
I was shocked when my wife offered to donate kidney – Eedris Abdulkareem
Celebrities
My son’s death a test from the Almighty — Nasarawa Governor
News
FG, Niger Republic sign MOU on Kano-Maradi road
News
- Advertisement -

You Might Also Like

Godwin Emefiele
Business

CBN Introduces Domestic Card to Combat Foreign Exchange Challenges

January 26, 2023
Godwin Emefiele
BusinessNews

CBN stands firm on January 31st deadline, says no extension for deposit of old naira notes

January 24, 2023
CBN Governor, Godwin Emefiele
BusinessNews

Central Bank of Nigeria Raises Monetary Policy Rate to 17.5% to Combat Inflation

January 24, 2023
Mr. Muhammad Nami, Executive Chairman, Federal Inland Revenue Service (FIRS) addressing members of the press at the FIRS HQ, Abuja. January 23, 2023
BusinessNews

Muhammad Nami-led FIRS breaks record with N10.1 trillion tax collection in 2022

January 24, 2023
Previous Next
Okay.ngOkay.ng
Follow US

© OKN MEDIA PUBLISHING 2022 - All rights reserved

  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
Welcome Back!

Sign in to your account

Lost your password?