Arab News

RIYADH: Saudi billionaire Prince Alwaleed bin Talal rejected Elon Musk’s offer to buy Twitter for $41.39 billion.

“I don’t believe that the proposed offer by Elon Musk ($54.20) comes close to the intrinsic value of Twitter given its growth prospects,” he said in a tweet on his personal account.

I don't believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects.

Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer.https://t.co/Jty05oJUTk pic.twitter.com/XpNHUAL6UX

— الوليد بن طلال (@Alwaleed_Talal) April 14, 2022

Being one of the largest and long-term shareholders of Twitter, Kingdom Holding Co. and I reject this offer,” he added.

Billionaire Elon Musk has offered to buy Twitter for $41.39 billion, a regulatory filing showed on Thursday.

Musk’s offer price of $54.20 per share represents a 38 percent premium to the closing price of Twitter’s stock on April 1, the last trading day before the Tesla CEO’s over 9 percent investment in the company was publicly announced.