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Elon Musk to buy Twitter for $44B and take it private

Deal was cemented roughly two weeks after the billionaire first revealed a 9 percent stake in the platform

 

April 26, 2022

Hannibal Hanschke, Associated Press file

FILE - Tesla and SpaceX CEO Elon Musk arrives on the red carpet for the Axel Springer media award in Berlin on Dec. 1, 2020. Musk says he has lined up $46.5 billion in financing to buy Twitter, and he's trying to negotiate an agreement with the company. The Tesla CEO says in documents filed Thursday, April 21, 2022 with U.S. securities regulators that he's exploring a tender offer to buy all of the social media platform's common stock for $54.20 per share in cash.

Elon Musk reached an agreement to buy Twitter for roughly $44 billion on Monday, promising a more lenient touch to policing content on the social media platform where he - the world's richest person - promotes his interests, attacks critics and opines on a wide range of issues to more than 83 million followers.

The outspoken Tesla CEO has said he wanted to own and privatize Twitter because he thinks it's not living up to its potential as a platform for free speech.

Musk said in a joint statement with Twitter that he wants to make the service "better than ever" with new features while getting rid of automated "spam'' accounts and making its algorithms open to the public to increase trust.

https://www.startribune.com/elon-musk-to-buy-twitter-for-44b-and-take-it-private/600167709/

 

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