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BREAKING: Elon Musk Completes The Purchase Of Twitter For $44bn

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Elon Musk Completes The Purchase Of Twitter For $44bn

BREAKING: Elon Musk Completes The Purchase Of Twitter For $44bn

Flippstack reports that the management of Twitter has today confirmed that it is selling the social media platform to billionaire entrepreneur Elon Musk in a deal valued at $44 billion.

The sale was a dramatic shift for the board, which had originally maneuvered to block Musk from taking the social media network private.

Musk had taken a major stake in the firm earlier this month before lining up last week some $46.5 billion in financing to push forward with the purchase.

Twitter board chair Bret Taylor said the body “conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” according to the statement.

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“The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”

After the announcement from Twitter, Elon Musk released a tweet to back it up, which he stated:

“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,” Musk said in a joint release announcing the takeover.

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BREAKING: Elon Musk Completes The Purchase Of Twitter For $44bn

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