BREAKING: The now official purchase of Twitter by Musk is valued at about $44 billion.
The social media platform confirmed the news through a press release Monday afternoon.Once the transaction is completed, Twitter will become a privately held company.
Musk said last week that he had lined up $46.5 billion in financing to buy Twitter, putting pressure on the company’s board to negotiate a deal.Twitter shareholders will receive $54.20 in cash for each share, according to Monday's announcement. "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," said Musk.
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