Apr 25, 2022

Twitter board agrees to $44bn takeover by Elon Musk

The board of Twitter has agreed to a $44bn takeover offer from the billionaire Elon Musk.Mr Musk, who made the shock bid less than two weeks ago, said Twitter had "Tremendous potential" that he would unlock. "Twitter has tremendous potential - I look forward to working with the company and the community of users to unlock it." Bret Taylor, chair of Twitter's board, said it had full assessed Mr Musk's offer and it was "The best path forward for Twitter's stockholders". Under the deal, which is expected to close later this year, Twitter's shares will be delisted and it will be taken private. Mr Musk's targeting of Twitter has moved at remarkable speed.

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