The world’s richest man with Deal for Twitter, Musk Lands a Prize and Pledges Fewer Limits
The world’s richest man succeeded in a bid to acquire the influential social networking service, which he has said he wants to take private.
Elon Musk, with more than 83 million followers on Twitter, has said he wants to “transform” the platform by taking it private...
Elon Musk struck a deal on Monday to buy Twitter for roughly $44 billion, in a victory by the world’s richest man to take over the influential social network...
Twitter agreed to sell itself to Mr. Musk for $54.20 a share, a 38 percent premium over the company’s share price this month before
It would be the biggest deal to take a company private — something Mr. Musk has said he will do with Twitter — in at least two decades
Mr. Musk said “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,”
“Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”
By taking the company private, Mr. Musk could work on the service out of sight of the prying eyes of investors, regulators and others.
The deal, which has been approved by Twitter’s board, is expected to close this year, subject to a shareholder vote and regulatory approvals.