Elon Musk entered into an agreement to buy Twitter Inc for $ 44 billion on Monday in a transaction that will shift control of the social media platform populated by millions of users and global leaders to the world’s richest person.
Discussions about the deal, which last week seemed uncertain, accelerated over the weekend after Musk courted Twitter shareholders with financing information about his offer.
Under pressure, Twitter began negotiating with Musk to buy the company at the proposed price of $ 54.20 per share. shares.
The deal closes Twitter’s operations as a public company since its listing in 2013.
“Freedom of expression is the foundation of a functioning democracy, and Twitter is the digital urban space where issues crucial to the future of humanity are discussed,” Musk said in a statement.
Twitter shares rose about 6% after the news.