American microblogging website, Twitter, has agreed to an acquisition deal with billionaire businessman, Elon Musk in a deal valued at around $44 billion, the company said Monday.
Rumours of Musk buying over the tech firm has made the rounds since he became biggest shareholder last month. The Tesla and SpaceX CEO became one of Twitter’s largest shareholders, was offered and turned down a seat on its board and bid to buy the company.
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” Twitter independent board chair Bret Taylor said in a statement, calling the deal ” the best path forward for Twitter’s stockholders.”
With the terms for the deal agreed, it expected to be finalized before the end of 2022.
Tweeting about the deal Musk wrote, “I hope that even my worst critics remain on Twitter, because that is what free speech means.”
Sealing this deal with put Musk, who is currently the richest person on earth, in charge of one of the most powerful social media company in the world.
