It’s official: Elon Musk takes over Twitter

Chennai: In one of the world’s biggest deals in the tech world, billionaire and Tesla co-founder Elon Musk has taken control of Twitter. The deal will see Musk acquire the social network for approximately $44 billion with shares valued at $54.20.

Investors will receive $54.2 for each Twitter share they own, the company said in a statement Monday. The price is 38 per cent more than the stock’s close on 1 April, the last business day before Musk disclosed a significant stake in the company, sparking a share rally.

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