Elon Musk’s bid to buy Twitter was rejected by one of the major shareholders, Alwaleed Talal.
Saudi Prince Alwaleed Talal said in a statement that the $54.20 offer was not enough given Twitter’s growth prospects.
Prince currently owns 5.2% of the company.
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
Elon Musk announced to the SEC and Twitter in the morning that he wanted to buy all the shares for $ 54.20.
It is known that Twitter held a meeting to evaluate Musk’s request.