Elon Musk Buys Twitter for $44 Billion

After previously purchasing 9.2 percent of the company, Elon Musk has now managed to buy Twitter completely as part of a $44 billion takeover that’s supposed to complete this year. In an announcement today, Twitter announced that Elon Musk would be paying $54.20 per share, with the company to then become a privately held entity. According to people familiar with the matter, the Twitter board held a private meeting earlier today specifically to discuss Musk’s offer. The official press release was released shortly after the meeting, as everybody described such an announcement as a simple matter of time. “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon's proposal with a deliberate focus on value, certainty, and financing. 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, explained today. Mak...