Twitter accepts Elon Musk’s $44 bln buyout offer

26/04/2022 Argaam
Logo ofTwitter

Logo of Twitter

Twitter Inc. on Monday agreed to sell itself to Elon Musk in a roughly $44 billion deal that will shift control of the social media platform populated by millions of users and global leaders to the world's richest person.  

 

Under the terms of the deal, shareholders will receive $54.20 in cash for each share of Twitter stock they own, matching Musk's original offer and marking a 38% premium over the stock price the day before Musk revealed his stake in the company. 

 

Twitter's stock rose 5.5% to $51.63 at 10:04 pm Makkah time, with market cap reaching $39.4 billion. 

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