Elon Musk taking Twitter personal in $44 billion deal

NEW YORK – Elon Musk clinched a deal to purchase Twitter Inc for $44 billion money on Monday in a transaction that can shift management of the social media platform populated by hundreds of thousands of customers and world leaders to the world’s richest particular person.

It’s a seminal second for the 16-year-old firm that emerged as one of many world’s most influential public squares and now faces a string of challenges.

Discussions over the deal, which final week appeared unsure, accelerated over the weekend after Musk wooed Twitter shareholders with financing particulars of his provide.

Below stress, Twitter began negotiating with Musk to purchase the corporate on the proposed $54.20 per share worth.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital city sq. the place issues important to the way forward for humanity are debated,” Musk stated in an announcement.

Twitter’s shares had been up about 6% following the information.

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