Elon Musk to acquire Twitter for $44 billion, take it private – Times of India

Billionaire entrepreneur Elon Musk agreed to purchase Twitter Inc for $44 billion money, utilizing one of many largest leveraged buyout offers in historical past to take personal a 16-year-old social networking platform that has turn into a hub of public discourse and a flashpoint within the debate over on-line free speech.
Traders will obtain $54.2 for every Twitter share they personal, the corporate stated in an announcement Monday. The worth is 38% greater than the inventory’s shut on April 1, the final enterprise day earlier than Musk disclosed a major stake within the firm, sparking a share rally.

Twitter shares had been halted for the information. “Free speech is the bedrock of a functioning democracy, and Twitter is the digital city sq. the place issues important to the way forward for humanity are debated,” Musk stated within the assertion.

“Twitter has large potential — I stay up for working with the corporate and the neighborhood of customers to unlock it.” “Twitter has a function and relevance that impacts your entire world,” its CEO Parag Agrawal tweeted.
“Deeply pleased with our groups and impressed by the work that has by no means been extra necessary.”

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