Youth Daily
  • News
  • Innovation
  • Culture
  • Science
  • Life
Facebook Instagram YouTube LinkedIn
Youth Daily
Facebook Instagram YouTube LinkedIn
  • News
  • Innovation
  • Culture
  • Science
  • Life
Youth Daily
Home » Elon Musk Buys Twitter in $44 Billion Deal

Elon Musk Buys Twitter in $44 Billion Deal

0
By ramazarifa on 25th April 2022 Culture
Elon Musk
Elon Musk buys Twitter - Al Drago/Bloomberg via Getty Images
Share
Facebook LinkedIn Email

Finally, after weeks of the uncountable news about Elon Musk and Twitter, the company agreed to sell itself to Tesla CEO. In a deal valued at around $44 billion, Musk will take the company private.

In less than a month, SpaceX’s CEO became one of Twitter’s largest shareholders. The social media company offered him a seat on its board but he turned it down. Then he bid to buy the company. However, after long discussions between both sides, Twitter agreed to sell the company.

As Musk‘s original offer, shareholders will receive $54.20 in cash for each share of that social media stock they own. Which was a 38% premium over the stock price the day before he revealed his stake in the company.

Musk said in a statement Monday, “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. Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”

Recommended Stories

  • Twitter Says Elon Musk Will Not Join Its Board
  • Elon Musk Buys 9.2% Stake in Twitter

Twitter‘s board has unanimously approved the deal, which is expected to close this year.

Last week, Musk revealed that he had lined up $46.5 billion in financing to acquire the company. Which apparently was a turning point that forced Twitter’s board to seriously think about the deal. So, they met on Sunday to evaluate the billionaire’s offer.

“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon‘s proposal with a deliberate focus on value, certainty, and financing.” Bret Taylor,
The Twitter independent board chair said in a statement. Taylor also called the deal ” the best path forward for Twitter’s stockholders.”

Just after the announcement of the deal, the platform stock was up nearly 6%.

#ElonMusk #Twitter
Share. Facebook LinkedIn Email
ramazarifa

Related Stories

Culture

Bored Ape Yacht Club Instagram Hacked, NFTs Worth Millions Stolen

Read More
Culture

Musk Confirms He Turned Down Gates on Climate Change Collaboration

Read More
Culture

The Crystal Method to Launch First Major Music Video NFT

Read More
Culture

Musk Says He Has $46.5 Bln in Funding for the Twitter Bid

Read More
Culture

Elon Musk Says He Doesn’t Own a Home and Staying at Friends’ Houses

Read More
Culture

A Guy Breaks Guinness Record by Watching Spider-Man Movie 300 Times

Read More

Leave a Reply Cancel reply

Our Best

Watch the First Innovative and Futuristic Flying Yacht Soaring Above Water

Elon Musk’s Starbase: A City With Spaceport to Mars and the Moon

Jeff Bezos Plans to Make Life in Space a Reality Through Orbital Reef

Bulletproof Jaeger-C Robotic Vehicle Arrived to the Australian Army – Video

Latest Posts

Elon Musk Buys Twitter in $44 Billion Deal

Read More

Musk Confirms He Turned Down Gates on Climate Change Collaboration

Read More

Youth Daily Newsletter

Join Youth Daily community, now.

Youth Daily is where news about Technology, innovation, culture, and much more is brought to you.
We're social. Connect with us:

Facebook Instagram YouTube LinkedIn RSS

Youth Daily Newsletter

Subscribe now, and keep yourself up-to-date with latest news that matters to you.

©2022 Youth Daily. All Rights Reserved
  • HOME
  • PRIVACY POLICY
  • JOBS
  • ABOUT US
  • TERMS OF USE

Type above and press Enter to search. Press Esc to cancel.

Go to mobile version