said that it has “entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion.”
Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction. Bret Taylor, Twitter’s Independent Board Chair, said the board assessed Musk’s proposal with a focus on “value, certainty and financing.” Taylor said the transaction “is the best path forward for Twitter’s stockholders.”
Parag Agrawal, Twitter’s CEO, said, “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”, “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.
Breaking: Twitter accepted Elon Musk’s bid to take over the company, giving the world’s richest man control over the influential social-media network