Elon Musk acquires Twitter for $44 billion

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In one of the biggest deals in the tech world, billionaire Elon Musk has acquired social media giant Twitter for a whopping $44 billion.

The Telsa CEO announced his takeover bid on April 14, calling it his ‘best and final offer’. The investors of the microblogging site will get $54.2 for each Twitter share they own, the company said in a statement Monday.

As per the data, the price is 38% more than the stock’s close on the 1st of April, the last business day before Elon acquired a significant stake in the company.

According to Wall Street Journal, on Friday, the SpaceX CEO met privately with several shareholders of Twitter to extol the virtues of his proposal and also made video calls to them to push for his case.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Musk.

With Musk taking over the company, we can expect major changes in the social platform in the coming days.

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