Twitter announced today, Monday, that it has entered into a deal to acquire Tesla CEO Elon Musk for $44 billion, while Twitter shareholders will receive $54.20 per share, and when the deal is completed, the social network will become a private company, according to finance. yahoo.
Trading on Twitter was suspended on Monday afternoon before the news, and this announcement comes after a turbulent few weeks between Musk and the Twitter board of directors, during which Musk became the largest shareholder in the company, and rejected the efforts of the board of directors to recruit him as a member, which prompted him to launch a hostile bid to take over the communication company. social.
Musk is now adding Twitter to his portfolio of companies including Tesla (TSLA), SpaceX, The Boring Company and Neuralink. He also uses the platform as a means of networking with politicians and critics.
His use of Twitter has also led to him getting into legal trouble in the past, most famously when he tweeted about his intention to make Tesla private at $420 a share, earning him a $20 million fine from the Securities and Exchange Commission.
Musk's animosity toward the Securities and Exchange Commission, and specifically its San Francisco office, was fully visible on Monday when he claimed, on Twitter, that the people at the agency were "Wall Street sharks".
Musk, co-founder of Twitter and former CEO Jack Dorsey, often attacks Twitter and its content moderation policies.
Trading on Twitter was suspended on Monday afternoon before the news, and this announcement comes after a turbulent few weeks between Musk and the Twitter board of directors, during which Musk became the largest shareholder in the company, and rejected the efforts of the board of directors to recruit him as a member, which prompted him to launch a hostile bid to take over the communication company. social.
Musk is now adding Twitter to his portfolio of companies including Tesla (TSLA), SpaceX, The Boring Company and Neuralink. He also uses the platform as a means of networking with politicians and critics.
His use of Twitter has also led to him getting into legal trouble in the past, most famously when he tweeted about his intention to make Tesla private at $420 a share, earning him a $20 million fine from the Securities and Exchange Commission.
Musk's animosity toward the Securities and Exchange Commission, and specifically its San Francisco office, was fully visible on Monday when he claimed, on Twitter, that the people at the agency were "Wall Street sharks".
Musk, co-founder of Twitter and former CEO Jack Dorsey, often attacks Twitter and its content moderation policies.