Elon Musk buys Twitter for roughly $44 billion
Islam News – Elon Musk, the renegade billionaire, struck a deal to buy the social media company for roughly $44 billion after submitting an unsolicited bid earlier this month. The company agreed to $54.20 a share, a 38 percent premium over the stock price when it was revealed that Musk had become the company’s biggest shareholder.
It would be the largest deal to take a company private — something Musk has said he will do with Twitter — in at least two decades. Follow live updates here.
What happens next is anyone’s guess: Musk is an erratic poster who often uses his account to take potshots at perceived enemies. One big question: Would Musk reinstate Donald Trump’s account?
Musk has not commented publicly on the Trump ban, but he has frequently expressed his concern that the platform limits free speech and over-moderates comments. In a statement, Musk said “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square.”
Reaction: Twitter’s employees say they have been largely in the dark about the takeover. Twitter’s share price rose throughout the day on Monday as a deal appeared increasingly likely: After the acquisition was announced, it closed up 5.7 percent at $51.70 per share.
Source: The New York Times