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Twitter Board Agrees To $44 Billion Takeover By Elon Musk

Twitter Board Agrees To $44 Billion Takeover By Elon Musk

The board of Twitter has agreed to an $44bn takeover offer from billionaire Elon Musk.

Mr Musk, who made the stock bid less than two weeks ago, has claimed he is the right person to ‘unlock” the special media firm’s “extraordinary potential”.

He has suggested a series of changes from relaxing its content restrictions to eradicating fake accounts.

The firm initially rebuffed Mr Musk’s bid, but it will now ask shareholders to to vote to approve the deal.

Mr Musk is the world’s richest man, according to Forbes magazine, with an estimated net worth of $273.6bn mostly due to his shareholding in electric vehicle maker Tesla which he runs. He also leads the aerospace firm SpaceX.

 

 

Source -BBC.

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