Twitter was sold to Elon Musk for 44 billion dollars

Twitter was sold to Elon Musk for 44 billion dollars

Tesla and SpaceX's CEO Elon Musk's negotiations with the social media company's board of directors to purchase Twitter resulted positively. Social media giant Twitter was sold to Elon Musk for 44 billion dollars.

In the statement made by Twitter, it was reported that an agreement was reached to sell the company to Musk for $ 54.2 per share.

In the statement, it was noted that Twitter will become a private company after the completion of the transaction.

Musk, whose views were included in the statement, said, "Freedom of expression is the cornerstone of a functioning democracy, and Twitter is the digital town square where issues vital to the future of humanity are discussed." he said.

Stating that she wants to make Twitter better than ever, Musk noted that the social media network has tremendous potential and that she looks forward to working with the company and users to reveal it.

Musk, who previously purchased 9.2 percent shares in Twitter, made an offer of $ 54.2 per share for the entire Twitter in her statement on April 14.

Twitter took a measure called a "poison pill" on April 15, after Elon Musk offered to buy the entire Twitter for approximately $43 billion. The company's board of directors unanimously approved the limited-term shareholder rights plan.

With this measure, the right of existing shareholders, other than the potential buyer, to purchase more shares from the company at a lower price was protected. It was stated that the plan would come into effect if Musk or another investor purchased more than 15 percent of the company's shares.

In the news published in the US media, it was reported that Musk started negotiations with the board of directors of the social media company to purchase Twitter. Following the news in question, Twitter's shares traded on the New York Stock Exchange gained more than 5 percent in value.