Elon musk & twitter deal
World’s Richest Man Elon Musk with net worth over $250 Billion , has bought Twitter in one of the largest tech deals in history & taken the ownership. Musk will pay around $44 billion for the social network(Twitter), with shares valued at $54.20. On April 14, Musk revealed his takeover attempt, calling it his ‘best and last offer.’
Twitter investors will get $54.20 in cash for each share of Twitter common stock they possess when the proposed deal closes, according to the terms of the agreement. The purchase price is a 38 % premium to Twitter’s closing stock price on April 1, 2022, the final trading day before Musk revealed his roughly 9% ownership in the company.
Musk has obtained $25.5 billion in fully committed debt and margin loan funding, as well as an equity commitment of $21.0 billion. “There are no financing conditions to the closing of the transaction,” it added.
Twitter also stated that it intends to report its first quarter fiscal year 2022 earnings on April 28, 2022, before the market opens.
Elon Musk also said that he will make twitter better than ever.
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