Elson Musk buys Twitter
Tue, 26 Apr 2022 6:06 GMT
Eccentric billionaire Elon Musk is now the new owner of social media giant Twitter after having a his bid accepted. Twitter said Monday it has agreed to sell itself to Elon Musk, who will take the company private in a deal valued at around $44 billion....
Twitter said Monday it has agreed to sell itself to Elon Musk, who will take the company private in a deal valued at around $44 billion.
The deal caps off a whirlwind news cycle in which the Tesla and SpaceX CEO became one of Twitter’s largest shareholders, was offered and turned down a seat on its board and bid to buy the company — all in less than a month.
Reports that a deal were imminent first emerged after Musk revealed last week that he had lined up $46.5 billion in financing to acquire the social media company.
Twitter’s board met on Sunday to evaluate Musk’s offer of buying all the shares he does not currently own for $54.20 a piece, a source familiar with the deal confirmed to CNN.
The billionaire can at times be inscrutable, and his politics are elusive, which has made it somewhat difficult to determine exactly what the billionaire would do if he successfully acquired Twitter.
But over the past weeks and months, he has given more hints about what he would change about Twitter — in interviews, regulatory filings and, of course, on his personal Twitter account.