Elon Musk Buys Twitter For $44bn, Company To Go Private

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Achievers News: Tesla CEO Elon Musk finally caught an elusive Twitter bird for $44 billion, as the company’s board decided to give in to his takeover bid with his “best and final” offer. Twitter announced late on Monday that it has entered into a definitive agreement to be acquired by an entity wholly owned by Musk for $54.20 per share in cash in a transaction valued at nearly $44 billion. Upon completion of the transaction, Twitter will become a privately-held company. The purchase price represents a 38 per cent premium to Twitter’s closing stock price on April 1, which was the last trading day before Musk disclosed his nearly nine per cent stake in Twitter. “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” said Bret Taylor, Twitter’s Independent Board Chair.

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