How was Elon able to buy Twitter?

In response to the unsolicited bid, they adopted a “poison pill” defense where stock in Twitter would splinter if Musk ever owned more than 15% of the company. Musk, undeterred, instead put together his “best and final offer” in a bid to take the company private instead and circumvent the poison pill.

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Has Twitter accepted Elons offer?

This article is in your queue. Twitter Inc. TWTR -2.09% accepted Elon Musk’s bid to take over the company and go private, a deal that would give the world’s richest person control over the social-media network where he is also among its most influential users.

What was Elon musks first offer for Twitter?

The initial offer. Mr. Musk made an unsolicited bid worth more than $40 billion for the influential social network, saying that he wanted to make Twitter a private company and that he wanted people to be able to speak more freely on the service.

What is the deal with Elon Musk buying Twitter?

Elon Musk has finally acquired Twitter after a weekslong saga during which he first became the company’s largest shareholder, then offered to buy it outright. The world’s richest person secured a deal on Monday, agreeing to buy the social network for $54.20 a share — valuing the firm at roughly $44 billion.

How much is Musk buying Twitter?

a $44 billion
(CNN Business) Elon Musk is set to take control of Twitter in a $44 billion deal that, at least judging by some of the reactions, feels like it could reshape the internet as we know it.

How much did Elon Musk pay for Twitter?

$44 billion
Tesla shareholders are worried the distracted CEO, who already runs two companies, will have to dump stock to finance his shiny new toy. In the aftermath of Elon Musk winning approval from Twitter’s board to buy the social media company for $44 billion, Tesla shareholders are running for the hills.

How much did Elon Musk pay for Twitter shares?

Twitter has struck a deal with Elon Musk, handing the world’s richest man control of a social network that has far-reaching influence on politics and society. Musk will pay about $44 billion, or $54.20 a share, to take the social media company private, according to an announcement from Twitter.

What percentage of Twitter will Elon Musk own?

Eventually, Musk scooped up that 9% stake in the company earlier this month, which made him one of Twitter’s largest shareholders. Twitter responded by announcing plans to have Musk join its board of directors.

How much money did Elon Musk pay for Twitter?

a $44bn
The board of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the billionaire Elon Musk. Mr Musk, who made the shock bid less than two weeks ago, said Twitter had “tremendous potential” that he would unlock.

Is Musk closing Twitter?

Mr. Musk, who also leads the electric carmaker Tesla and the rocket maker SpaceX, has said he plans to take Twitter private and that he wants to improve the product and promote free speech on the platform. The deal is not set to close for another three to six months, Twitter told its employees on Monday.