Elon Musk strikes deal to buy Twitter for $61 billion

"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," Mr Musk said in a statement released by Twitter on Monday.

Musk last week lined up around $46.5 billion in financing to make the purchase happen, and Dan Ives, an analyst at Wedbush Securities, predicted earlier in the day that since the board could not find another buyer, it would likely accept his offer. While the firm's board initially said it was reviewing his offer, it later rebuffed him and adopted a "poison pill" plan that would have made it harder for Musk to acquire a controlling position.

In a filing, Musk had pointed to a $13 billion debt facility from a financing consortium led by Morgan Stanley, a separate $12.5 billion margin loan from the same bank, as well as $21 billion from his personal fortune as being behind the deal.

Musk is for free speech !

Power over truth...like Murdoch, only American

Why didn’t he buy out the Murdoch empire, if he wanted influence that badly…? Hey Elon - I was going to buy a Tesla, but not now, it’s obvious you don’t need my money…

Interesting to see how Twitter will gel with Tesla’s own social network Engage. Twitter could become the go-to network for the InternetofThings in homes, cars etc

What a achievement. What ever he sets his mind on, he does it. It's good to have that good balance capital and knowledge. Well done. I wouldn't mind working for him. Love his new innovation.

Gutted by this

Im all for it if it means snowflakes cant report me for saying what I think about Dutton👍

Oh ffs.

Excellent news 👏. The leftist who hate free speech would hate this. All I can tell them if you dont like it start your own version of Twitter.

Just what we need 🤮

What could possibly go wrong?

This is horrifying. This guy? Really?

Not that influential. if I turn it off my life would likely not change. Having it in on doesn’t change it much either. It’s a time filler.

Just what we need. Not.

Oh shit

Nothing lasts forever.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elon Musk to buy Twitter for $61 billionThe deal will end Twitter’s run as a public company since its 2013 initial public offering. what's in it for him.........
Source: smh - 🏆 6. / 80 Read more »

Elon Musk to buy Twitter for $61 billionElon Musk has clinched a deal to buy Twitter, in a transaction that will shift control of the social media platform populated by millions of users and global leaders to the world’s richest person.
Source: brisbanetimes - 🏆 13. / 67 Read more »

Twitter ‘in takeover talks with Elon Musk’ after pressure from shareholdersCompany negotiating with Tesla CEO, say sources, after he wooed investors with details of his $43bn offer Musk is going to win this one.
Source: GuardianAus - 🏆 1. / 98 Read more »

Twitter ‘in takeover talks with Elon Musk’ after pressure from shareholdersCompany negotiating with Tesla CEO, say sources, after he wooed investors with details of his $43bn offer Relentless, emetic adverts, Google style will follow any elonmusk takeover of Twitter. God help us! It might be me, but this is concerning - Musk is a rich, talented, loose cannon and we have no idea what he wants Twitter for. I'd rather it was just left alone. I can't see in what way Twitter would be better in Musk ownership. ElonMuskBuyTwitter
Source: GuardianAus - 🏆 1. / 98 Read more »