Elon Musk to acquire Twitter for $44 billion, take it private

Tesla CEO Elon Musk has become the new owner of Twitter. Musk has made a deal of $ 44 billion, i.e. 3,368 billion rupees to buy this micro blogging site. Twitter's independent board chairman Brett Taylor gave information about the deal with Musk in a press release at 12.24 pm Indian time.

Musk will have to pay $ 54.20 (Rs 4,148) for every share of Twitter. He already has a 9% stake in Twitter. He is the largest share holder of Twitter. After the latest deal, he will have 100% stake in the company and Twitter will become his private company.

What's in the deal and how did it get approved?

According to the report of CNN, after becoming a company owned by Elon Musk, all the shareholders of Twitter will get $ 54.20 i.e. Rs 4,148 cash for every share. This share price is 38% higher than before Musk disclosed his 9% stake in Twitter.

Musk said last week that he had financed $46.5 billion to buy Twitter. After this, the board of Twitter took a fresh look at Musk's offer. On Sunday, an important meeting of Twitter's board was also held to discuss Musk's offer.

Twitter's stock rose 6% on deal talk

On Monday, discussions continued throughout the day about Elon Musk buying Twitter. This had led to a 6% jump in Twitter's stock. After coming into the hands of Musk, people expect big growth in the company. Musk himself has also said that Twitter has a lot of potential.

Supporters of Freedom of Speech on Twitter

Elon Musk is the richest businessman in the world. He is in favor of Freedom of Speech. He also cited the reason behind his intention to buy Twitter that the freedom of speech on this social media platform is under threat and he wants to ensure that it remains. The profile of Musk can be understood from the graphic below.