Elon Musk taking Twitter personal in $44 billion deal

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NEW YORK, April 25 (Reuters) – Elon Musk clinched a deal to shop for Twitter Inc (TWTR.N) for $44 billion money on Monday in a transaction that may shift keep an eye on of the social media platform populated by way of hundreds of thousands of customers and international leaders to the sector’s richest individual.

This can be a seminal second for the 16-year-old corporate that emerged as one of the crucial international’s maximum influential public squares and now faces a string of demanding situations.

Discussions over the deal, which ultimate week seemed unsure, sped up over the weekend after Musk wooed Twitter shareholders with financing main points of his be offering.

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Below force, Twitter began negotiating with Musk to shop for the corporate on the proposed $54.20 in keeping with percentage worth. learn extra

“Unfastened speech is the bedrock of a functioning democracy, and Twitter is the virtual the city sq. the place issues important to the way forward for humanity are debated,” Musk stated in a commentary.

Twitter’s stocks have been up about 6% following the scoop.

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Reporting by way of Greg Roumeliotis in New York, further reporting by way of Krystal Hu;
Modifying by way of Mark Potter and Matthew Lewis

Our Requirements: The Thomson Reuters Agree with Ideas.

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