For Nivedita Balu and Akash Sriram
BENGALURU, India (Reuters) – Elon Musk on Monday struck a deal to buy Twitter for $44 billion in a deal that will transfer control of the social media platform populated by millions of users and global leaders to the richest person. of the world.
Negotiations over the deal, which last week appeared uncertain, accelerated over the weekend after Musk courted Twitter shareholders with financial details of his offer.
Under pressure, Twitter began negotiating with Musk at the proposed price of $54.20 a share.
The deal will transform Twitter, a public company since its IPO in 2013, into a privately held company.
“Free speech is the foundation of a functioning democracy, and Twitter is the digital city square where issues vital to the future of humanity are debated,” Musk said in a statement.
Twitter shares rose about 6% after the deal was announced.
(Por Nivedita Balu e Akash Sriram)