Saturday. 28.01.2023
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Elon Musk's $44-billion bid to buy Twitter is accepted

Musk made the non-binding proposal to acquire all outstanding common stock of Twitter not already owned by him earlier this month

25 April 2022, France, Clermont-Ferrand: A view of the logo of the American social networking company Twitter on a smartphone screen beside a Portrait of the entrepreneur Elon Musk. Shares of Twitter, Inc are rising almost 5% in pre-market on Monday after reports that the microblogging site's board is set to accept an offer from Tesla founder Elon Musk as early as Monday. Photo: Adrien Fillon/ZUMA Press Wire/dpa.
A view of the logo of the social networking company Twitter on a smartphone screen beside a Portrait of Elon Musk. Photo: Adrien Fillon/dpa.

Twitter announced on Monday that it has entered into a definitive agreement to be acquired by Tesla founder Elon Musk in a transaction valued at around $44 billion.

Once the transaction is completed, Twitter will become a privately held company, the company said in a statement.

"The Twitter Board conducted a thoughtful and comprehensive process to assess Elon's proposal with a deliberate focus on value, certainty, and financing," Twitter's independent board chair, Bret Taylor, said.

Musk made the non-binding proposal to acquire all outstanding common stock of Twitter not already owned by him earlier this month.

The transaction, which has been unanimously approved by the Twitter board of directors, is expected to close in 2022, subject to the approval of Twitter stockholders.

Elon Musk's $44-billion bid to buy Twitter is accepted
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