Twitter on Monday (local time) confirmed the sale of the company to Tesla Chief Elon Musk for USD 44 billion.Under the terms of the deal, shareholders will receive USD 54.20 in cash for each share of Twitter stock they own, matching Musk's original offer and marking a 38 percent premium over the stock price the day before Musk revealed his stake in the company, CNN reported.
It further reported that the deal caps off a whirlwind news cycle in which the Tesla and SpaceX CEO became one of Twitter's largest shareholders, was offered and turned down a seat on its board, and bid to buy the company -- all in less than a month. reports Mid-Day.For more details visit.
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