July 1, 2022

What you need to know

  • Twitter will be bought Elon Musk for about $44 billion.
  • The company will go private once the deal goes through. 
  • Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction.

Twitter has agreed to be bought for about $44 billion by SpaceX and Tesla founder Elon Musk, the company announced on Monday.

In a press release, Twitter said stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing the proposed transaction.