Elon Musk to buy Twitter for $44 billion

Elon Musk Twitter

Twitter announced this Monday (04.25.2022) that it accepted the purchase offer of the American businessman Elon Musk for 44,000 million dollars and that it will cease to be listed on the stock market.

“Freedom of expression is the foundation of a functioning democracy and Twitter is the digital public square where issues that are vital to the future of humanity are debated,” Musk said in a joint statement announcing the acquisition.

Before the acquisition was confirmed, the listing of Twitter shares on Wall Street had been suspended until there was news, which took place minutes later. The shares were then more than 5.5% above Friday’s closing value.

This operation is a dramatic turn after Twitter announced ten days ago that it was preparing a maneuver known as a “poison pill” to hinder Musk’s hostile takeover bid.

Musk said last week that he had raised $46.5 billion to make the purchase, thanks to two bank loans from Morgan Stanley and also his personal fortune, from which he put up $21 billion.