Elon Musk strikes deal to buy Twitter for $44bn

Elon Musk strikes deal to buy Twitter for $44bn

Elon Musk and Twitter have finally reached upon a deal for sale of Twitter to elon musk. According to the deal Elon musk will buy the firm at the rate of $54.20 per share with a 38% premium over every stock.

As per the details, world’s richest man has bought the famous social media site for a whopping prize of $44 billion. This is the largest deal regarding  the sale of any company for at least last two decades so far. According to initial reports this deal is being considered a victory for Elon Musk.

Although the deal has been accepted by the executive board of twitter, the final deal will only be finalized after a yes vote by the shareholders of the firm and approval by regulatory authorities.

The billionaire businessman wants to transform twitter into a more liberal site with more freedom for the subscribers to convey their thoughts. Although twitter is not the biggest social media platform it still enjoys a dominant impact upon people as so many politicians and celebrities use it for their miscellaneous thoughts.

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