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Wednesday, October 5, 2022

Elon Musk taking Twitter private in $44 billion deal

TechElon Musk taking Twitter private in $44 billion deal

New York (Times Of Ocean) – The world’s richest man Elon Musk has agreed to buy Twitter for $44 billion in cash in a deal that will shift control of the social media platform populated by millions of users and global leaders to him.

It’s a pivotal moment for a company that has emerged as one of the world’s most influential public squares and now faces a string of challenges.

As Musk wooed Twitter shareholders with details of his financing offer over the weekend, discussions over the deal accelerated, which appeared unclear last week.

As a result of pressure, Twitter started negotiating with Musk to buy the company at $54.20 per share.

“Free speech is vital for a functioning democracy, and Twitter is the digital town square where humanity’s future is debated,” Musk said in a statement.

Shares of Twitter rose about 6% on the news.

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