American businessman and developer Elon Musk has reached an agreement with Twitterʼs shareholders and is buying it for $ 44 billion. Upon completion of the operation, Twitter will become a private company, not a joint-stock company.
Independent Chairman of Twitter Board of Directors Brett Taylor said: “Twitterʼs Board of Directors has conducted a thoughtful and comprehensive process to evaluate Elonʼs proposal, focusing on value and funding. The proposed deal will bring a significant cash prize, and we believe it is the best way forward for Twitter shareholders.”
Reuters writes that discussions on the deal accelerated over the weekend after Elon Musk told shareholders in detail about the financial details of his offer.
Elon Maskʼs last post on Twitter before buying the social network: "I hope that even my fiercest critics will remain on Twitter because that is what free speech means."
- On April 5, Elon Musk bought a 9.2% stake in Twitter, after which the company offered him a seat on the board. Musk refused and on April 14 offered to buy Twitter for $ 43 billion.