Twitter announced on Monday (25th) that its board of directors has accepted the acquisition of Tesla founder and CEO Elon Musk in a transaction valued at about $44 billion, equivalent to $54.2 per share.
The deal is expected to close this year and Twitter will become a private company.
Twitter announced the closing news after trading was suspended, and it was suspended at $51.63, up 5.52%.
Bret Taylor, chairman of Twitter's independent board, said: "Twitter's board has undertaken a thoughtful and comprehensive process to evaluate Musk's proposal, with a particular focus on value, certainty and financing. The transaction will represent a significant cash premium, which we believe will be beneficial to Twitter shareholders. It's the best move."
"Reuters" quoted sources: Twitter plans to accept Musk's bid to open up more than 3% rumored that Twitter is reconsidering Musk's acquisition offer Musk reportedly "pays out of his own pocket" to buy Twitter for $15 billion or raise equity financing