BREAKING: Twitter Announces Deal With Elon Musk

Twitter announced late on Monday that it has entered a definitive agreement to be acquired by Elon Musk for $54.20 per share in a deal valued at $44 billion.

“Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction,” Twitter said in a statement. “The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.”

Twitter CEO Parag Agrawal invited employees to a meeting so management could address their questions following the take over.

“The Twitter Board has announced it has entered into an agreement for Twitter to be acquired by a private entity fully owned and controlled by Elon Musk,” Agrawal said. “I know this is a significant change and you’re likely processing what this means for you and Twitter’s future.”

This is a breaking news story; refresh the page for updates. 

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