Elon Musk To Buy Twitter for $44 Billion

Twitter Inc is finally set to accept the buy offer from Elon Musk. It is already known that Elon Musk offered to buy Twitter Inc for around 44 Billion dollars in cash earlier. And it is his ‘best and final’ offer for Twitter and he is reportedly negotiating to buy it on his personal capacity and Tesla has nothing to do with it. Twitter today announced the $54.20 per share deal after a meeting with its shareholders.

Today, the social media company reportedly agreed for the sale offer made by the World’s richest man Elon Musk. Twitter shares went up 4.5 percent pre-market after the news came out. Though signed an agreement with Musk, Twitter would be allowed to accept an offer from another party by paying Musk a break-up fee, reports say.

Elon Musk earlier said the Twitter needs to be taken private to grow and become a genuine platform for free speech. Musk also said he wants to combat trolls on Twitter and proposed changes to the Twitter Blue premium subsciption service, including slashing its price and banning ads.

Musk also said the company will neither thrive nor serve this scietal imperative in its current form, as per his offer letter last week. Before Musk announced the financing package, Twitter board was expected to reject the offer.