Home News Elon Musk buys Twitter for $ 44 billion

Elon Musk buys Twitter for $ 44 billion

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Twitter, Inc. announced today that it has concluded a definitive agreement by which the company will be acquired by the wholly owned company Elon Musk, for USD 54.2 per share in cash, in a transaction valued at approximately 44 billion USD “, the communiqué reads of press. According to the portal, after the transaction is completed, Twitter will no longer be a public company, and will be delisted.

“Twitter’s board of directors has done a thorough and comprehensive process to evaluate Elon’s proposal, focusing on cost, guarantees and funding,” said Bret Taylor, independent director of Twitter’s board of directors. Taylor also called the future agreement “the best way forward” for the company’s shareholders.

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Musk previously announced his intention to turn Twitter from a public company to a private company (in the sense of delisting from the Stock Exchange), after which his shares can only be sold or exchanged privately or at the counter.

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