This deal was announced by the social media platform on Monday after negotiations between one of the world’s richest person and the Twitter board.
Twitter agrees to have finally reached an agreement to barter the company to Elon Musk for approximately $44billion (£34.6billion).
The deal was thrown open by the social media platform on Monday after days of negotiations between one of the world’s richest person and the Twitter board of management.
Elon Musk had made known his interest to purchase the social media platform on 14 April for $54.20 a share, or about $43billion.
The additional $1billion price tag is understood to manifest the purchase of additional shares revealed by Twitter.
The deal entails Twitter will now be taken private,putting a halt to its run on the stock market which commenced in the year 2013.
Elon Musk will pay $54.20 cash per share for the San Francisco-based company, which will now be taken private after days of negotiations between the entrepreneur and the platform’s board.
“Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important,” said Parag Agrawal, Twitter’s CEO was quoted to have said.