Big Law
Twitter Enters a $44 Billion Acquisition Deal With Elon Musk
Twitter (TWTR) announced on Monday that it has entered into a deal to be acquired by Tesla CEO Elon Musk for $44 billion. Twitter shareholders will receive $54.20 per share, and when the deal is finalized the social network will become a privately held company.
Twitter trading was halted Monday afternoon ahead of the news. Shares were up 6% just after 3:30 p.m. EST.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a statement following the announcement.
