BREAKING: Elon Musk Buys Twitter In $44 Billion Deal

Business Insider reports

Twitter accepted Elon Musk’s offer to buy the company, it announced Monday — a dramatic coup for the billionaire as he seeks to unlock the social network’s “extraordinary potential.” Musk will pay $54.20 per share for Twitter, matching his original offer, totaling $44 billion.

The two parties met Sunday after Twitter executives opted to re-examine Musk’s original offer, multiple outlets reported, after he secured roughly $46 billion of financing to back the deal. Twitter’s board initially resisted Musk’s attempt to buy the company.

It put up a “poison pill” defense to block attempts at a hostile takeover after Musk rejected its offer for a board seat in exchange for limiting his maximum investment.

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