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On Monday April 25, 2022, at 02:55PM, msmash posted from the breaking dept.
Twitter today announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company. Press release:
Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction. The purchase price represents a 38% premium to Twitter's closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter. Mr. Musk said that free speech is the bedrock of a functioning democracy and that the digital town square where matters vital to the future of humanity are debated. I look forward to working with the company and the community of users to unlock it.
Earlier on Monday, Musk tweeted: "I hope that even my worst critics remain on Twitter, because that is what free speech means."
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