Discussions about the deal accelerated over the weekend after Musk wooed Twitter shareholders with funding details of his bid
Discussions about the deal accelerated over the weekend after Musk wooed Twitter shareholders with funding details of his bid
Elon Musk on Monday inked a deal to buy Twitter Inc. for $44 billion, a transaction that would give control of the social media platform populated by millions of users and global leaders to the wealthiest person relocated to the world.
Discussions over the deal, which appeared uncertain last week, accelerated over the weekend after Mr Musk wooed Twitter shareholders with financing details of his bid.
Under pressure, Twitter began negotiating with Musk to buy the company at the proposed price of $54.20 per share.
The deal ends Twitter’s run as a public company since its IPO in 2013.
“Freedom of expression is the bedrock of a functioning democracy, and Twitter is the digital marketplace where important issues affecting the future of humanity are debated,” Musk said in a statement.
Twitter’s shares rose about 6% after the news.
