Elon Musk set to acquire Twitter for $44 billion

Elon Musk will soon hold the keys to Twitter. One of the most influential social media platforms on the planet, Twitter will be acquired by an entity wholly owned by Elon Musk for $54.20 per share in cash in a transaction valued at approximately $44 billion.
The transaction has been unanimously approved by the board of directors of Twitter. The deal is expected to close in 2022, subject to the approval of Twitter stockholders, the receipt of applicable regulatory approvals and the satisfaction of other customary closing conditions.
Upon completion, Twitter will become a privately held company and will no longer have its shares traded on any stock exchange.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated”, Musk said. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it”, he continued.
Musk has secured $25.5 billion of “fully committed debt and margin loan financing” and is using about $21 billion of his own equity on top of that to finance the purchase.