Elon Musk’s Grand Takeover of Twitter for $44bn

Elon Musk

Twitter, Monday, announced it is selling the social media platform to billionaire entrepreneur Elon Musk in a deal valued at $44 billion.

Musk will pay $54.20 cash per share for the 16-year-old platform, which will now be taken private after days of intense negotiations between the entrepreneur and the board.

In a joint statement announcing the takeover, Musk told his over 80 million followers, “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.”

According to Musk said he had taken a major stake in the San-Francisco based firm earlier this month before lining up last week some $46.5 billion in financing to push forward with the purchase.

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