World richest man, Elon Musk agrees to buy Twitter at $44billion

Elon Musk bid to buy Twitter has become a closed deal as the board of Twitter Inc. on Monday accepted Musk’s $44 billion offer for the company.

When finalized, the deal will be one of the biggest acquisitions in tech history.

Some analysts believe that the purchase of Twitter by the world’s richest man will likely have global repercussions for years to come, especially as regards to how billions of people use social media.

Under the terms of the deal, shareholders will receive $54.20 in cash for each share of Twitter stock they own, matching Musk’s original offer and marking a 38 per cent premium over the stock price the day before Musk revealed his stake in the company.