Elon Musk buys Twitter
Twitter agreed to be taken over at $54.20 a share, a 38 percent premium over the stock price. Aaccording to data compiled by Dealogic, it would be the largest deal to take a company private.
"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," Musk said in a statement announcing the deal. He said he wanted “to make Twitter better than ever."
In a statement, Bret Taylor, Twitter’s chairman, said the board had "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."
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