What a fun day today would be to be an investor in the stock market! AP reports,
Tesla CEO Elon Musk is offering to buy Twitter, saying the social media platform he has criticized for not living up to free speech principles needs to be transformed as a private company.
Twitter Inc. said in a regulatory filing on Thursday that Musk, currently the company's biggest individual shareholder, has proposed buying the remaining shares of Twitter that he doesn't already own at $54.20 per share, an offer worth more than $43 billion.
Twitter shares rose to $47.83, up 4.3% but well below Musk's offer price, a sign that some investors may doubt the deal will go through. The stock is still down from its 52-week high of about $73.
Read more here: https://acecomments.mu.nu/?post=398683
In the comments section at Ace of Spades, Texas Dan writes,
Hey Twitter: just for reference, the preferred engineering approach at Space X is to launch rockets, see how they break, and then adjust.
We are all looking forward to the first Twitter fireball.
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