Twitter Accepts Elon Musk S 44 Billion Buyout
The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, which was the last trading day before Musk disclosed he owned a 9% stake in the platform. “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” Bret Taylor, Twitter’s Independent Board Chair, said in a statement. “The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders....