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A securities and exchange filing from Twitter Inc revealed on Thursday that Telsa Inc Chief Executive Elon Musk is exploring a tender offer to acquire the remaining stock of Twitter.
Last Thursday, billionaire Musk offered to buyout Twitter in an offer worth around $43 billion after securing a 9.2% stake in the microblogging platform the week before.
Musk offered to buy the remaining shares for $54.20 each, representing a 38% premium over the closing price on April 1 - the last trading day before Musk's investment was announced.
Twitter had not responded to the offer and as a result, Musk has now decided to explore a tender offer for the platform.
The Tesla chief has subsequently secured €46.5 billion in financing from Morgan Stanley Senior Funding Inc to fund his takeover bid.
Shares in Twitter were up 1.5% at $47.40 in New York on Thursday while Tesla shares were up 9.0% also in New York.
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