Musk, Twitter Reach Deal On $44B Sale

By Tom Zanki (April 25, 2022, 3:29 PM EDT) -- Twitter Inc. said Monday it has accepted a $44 billion takeover offer led by Tesla Inc. CEO Elon Musk, a breakthrough in the flamboyant entrepreneur's quest to take over the social media giant and reshape its operations.

Musk and backers will acquire Twitter for $54.20 a share under terms of the deal. The price represents a premium of 38% on Twitter's stock price on April 1, the day before Musk disclosed he acquired a 9% stake in the company.

Elon Musk reached a deal to acquire Twitter for $54.20 a share, which is a 38% premium on the company's stock price...

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