Tech billionaire Elon Musk launches attempt to buy Twitter.
The head of the electric car manufacturer Tesla announced on Thursday an offer to buy all shares in the short message service.
Musk has held a good nine percent of Twitter so far.
Musk is now offering all shareholders $54.20 per share, according to a SEC filing.
The stock closed at just under $46 on Wednesday.
Musk announced that he wanted to delist Twitter after an acquisition.
According to the SEC filing, Musk said Twitter has "extraordinary potential" and that he will exploit it.
At the same time, he emphasized that the offer for 100 percent of the shares was his "best and final".
If it is rejected, he would have to reconsider his position as a shareholder.
Twitter shares rose nearly 12 percent to $51.14 in premarket US trading.
Tesla's shares, on the other hand, went down by one and a half percent.