Twitter’s Board of Directors agrees to sell Twitter to Elon Musk for $44 billion

One of the largest investments agreed for a buyout in history, Elon Musk is buying Twitter for a whopping $44 billion. Twitter’s board of directors has agreed to sell Twitter to Elon Musk. It was a unanimous board decision agreeing to allow Elon Musk to buy Twitter.

Earlier, Elon Musk announced on his Twitter account that he had acquired 9.2 percent of Twitter’s stock which was $2.89 billion, making him Twitter’s largest shareholder. Out of nowhere, Elon Musk’s largest shareholding was surpassed when Vanguard Group increased its investment to reach 10.3 percent. After that development, Musk was offered a seat on Twitter’s board of Directors with a condition that he will not acquire more than 14.9 percent of Twitter’s stock.

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Musk declined the offer as announced by Twitter CEO Parag Agarwal without giving any reasons for his refusal.

Musk wanted to acquire Twitter altogether, Elon has put $44 billion on the table. He has already secured $22.5 billion in financing from multiple global banks and intends to add $21 billion from his personal equity.

This is the latest Tweet by Elon Musk clearing many confusions and projecting a plan forward. He wants to ensure freedom of speech.

Elon also added that:

I hope that even my worst critics remain on Twitter because that is what free speech means- Elon Musk.


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