The billionaire has agreed on a takeover with the social network.
(Photo: Reuters)
New York, San Francisco, Dusseldorf Tesla boss Elon Musk has reached his goal on Twitter: The US billionaire takes over the online service for $44 billion. Investors will receive $54.20 for each Twitter share they own, Twitter announced on Monday evening. The shares will then be taken off the stock exchange. Twitter is giving up its opposition to Musk’s takeover.
According to US media reports, Twitter management met with Musk on Sunday to discuss the purchase offer and his financing plan. According to the New York Times, both sides negotiated until the early hours of Monday morning. Apparently some shareholders wanted to get a higher price. Musk had described his offer as his “best and final.” The shares closed at $48.93 on Friday.
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