Elon Musk Successfully Purchases Twitter for $44 Billion

Elon Musk Successfully Purchases Twitter for $44 Billion

Elon Musk, Successfully Purchases Twitter, for $44 Billion.

NBC reports that Twitter has officially accepted billionaire Elon Musk's $44 billion offer to buy the social media company and take it private.

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NBC reports that Twitter has officially accepted billionaire Elon Musk's $44 billion offer to buy the social media company and take it private.

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The announcement was made on April 25.

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In response, the stock was halted until the news broke but was up over 6% once trading resumed.

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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, Elon Musk, Press release, via NBC.

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, Elon Musk, Press release, via NBC.

I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans, Elon Musk, Press release, via NBC.

Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it, Elon Musk, Press release, via NBC.

According to the new agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock.

The purchase price reportedly represents a 38% premium to Twitter's closing stock price on April 1.

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NBC reports that was the last trading day before Musk revealed his approximate 9% stake in Twitter.

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The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing.

, Bret Taylor, Twitter’s Independent Board Chair, via NBC.

The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing.

, Bret Taylor, Twitter’s Independent Board Chair, via NBC.

The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders, Bret Taylor, Twitter’s Independent Board Chair, via NBC