Elon Musk Buys Twitter For An Estimated $44B With An Aim To Make The Platform ‘Better Than Ever’

In an official press release by Twitter, the tech giant has agreed to sell the entire company to Musk for $54.20 per share, which equates to approximately $44 billion. According to the press release, the completion of the transaction will officially make Twitter a privately held company.

As AfroTech previously reported, Musk declined to become a part of Twitter’s board. That move sparked a conversation about what was next for Musk and the large stake he already acquired. After learning that his next move was the buyout of the company, Twitter’s CEO and its board immediately began due diligence on what such an offer would mean for them.

“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.”

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