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Elon Musk Buys Twitter for 44 Billion Dollars


Elon Musk strikes deal to buy Twitter for $45bn

The leading body of Twitter has consented to a $44bn (£34.5bn) takeover offer from the very rich person Elon Musk.

Elon Musk Buys Twitter

Mr Musk, who made the shock bid under about fourteen days prior, said Twitter had "huge potential" that he would open.

He additionally required a progression of changes from loosening up its substance limitations to annihilating phony records.

The firm initially rebuffed Mr Musk's bid, but it will now ask shareholders to vote to approve the deal.

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It is not clear who will lead the new company. The firm company is currently led by Parag Agrawal, who took over from co-founder and former boss Jack Dorsey last November.

But in his offer document, Mr Musk told Twitter's board: "I don't have confidence in management."

Under the deal, which is expected to close later this year, Twitter's shares will be delisted and it will be taken private.

Mr Musk has suggested this will give him freedom to make the changes he wants to the business.

Mr Musk's targeting of Twitter has moved at remarkable speed. It emerged at the beginning of April that Mr Musk had become the largest shareholder in the firm with a 9.2% stake.

He was then invited to join Twitter's board but turned down the offer before launching a surprise bid for the company on 14 April, saying he wanted to "unlock" its potential as a bastion of freedom of speech.

Twitter answered by setting up a purported "Poison Pill" guard to battle off Mr Musk. The component would have made challenges for Mr Musk in the event that he endeavored to build his stake in the organization.

Be that as it may, Twitter's position moved after Mr Musk uncovered more monetary subtleties. He has gotten $25.5bn of funding for the arrangement and will take a $21bn stake in the business.

However it has changed the news business and how VIPs and lawmakers contact their crowds, Twitter has long frustrated Wall Street, slacking other web-based entertainment organizations in its capacity to change over that power into dollars.

The company ended 2021 with more than 200 million daily users globally, up 13% from the prior year, with most of that growth coming from overseas.

But earlier this year, shares were trading lower than they did when the company first listed on the stock exchange in 2013.

Elon Musk also owns other Companies like Tesla, SpaceX, the Boring Company.

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