Elon Musk Reaches $44 Billion Deal to Buy Twitter

Twitter’s 11 board members have accepted Elon Musk’s roughly $44 billion takeover bid, the company announced on Monday afternoon. In a massive shake-up for the social media platform, the tech billionaire, who previously held a 9% stake in Twitter, acquired all of its remaining shares for $54.20 each. Twitter is now set to become a privately held company. “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” said Twitter’s independent board chairman Bret Taylor in a Monday announcement. “The proposed transaction will deliver a substantial cash premium,… Read Full Article