Saudi prince rejects Elon Musk’s Twitter takeover bid


Saudi Arabian investor Prince Alwaleed bin Talal said on Thursday April 14, 2022 that he, as one of the major shareholders, had rejected a takeover bid by billionaire entrepreneur Elon Musk on Twitter.

“I don’t think Elon Musk’s proposed offer ($54.20 per share) comes close to Twitter’s intrinsic value given its growth prospects,” the prince said in a Twitter post.

Mr Musk targeted Twitter Inc on Thursday with a $43 billion cash takeover bid. The Tesla CEO said the social media giant needed to be privatized in order to grow and become a platform for free speech.

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