Elon Musk launches $43-bn hostile takeover of Twitter

Musk's offer price of $54.20 per share represents a 38% premium to Twitter's April 1 close, the last trading day before the Tesla CEO's more than 9% stake in the company was made public

Elon Musk has made a “best and final” offer to buy Twitter Inc., saying the company has extraordinary potential and he will unlock it.

The world’s richest man will pay $54.20 per share in cash, representing a 54% premium over the Jan 28. closing price and a value of about $43 billion.

Twitter's shares jumped 12% in premarket trading.

"Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company," Musk said in a letter to Twitter Chairman Bret Taylor.

"My offer is my best