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Twitter (TWTR) accepts Elon Musk's $44 billion deal

Twitter has officially agreed to Elon Musk's purchase proposal.

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After a bizarre back and forth over the past several weeks, Twitter (TWTR) has officially accepted Elon Musk’s $44 acquisition offer. The multi-billionaire will soon gain control of the popular social media platform. Twitter will become a private company upon the completion of the deal.

This news comes directly from the source, as Twitter has shared an official news release to confirm the acquisition. Musk will acquire Twitter (TWTR) in its entirety for $54.20 USD per share, for a total value of $44 billion. This is essentially on pace with Musk’s original offer, which Twitter had been dismissive of prior to recent talks with Musk and shareholders.

elon musk buys twitter

Elon Musk provided a statement to coincide with the news of the acquisition.

"Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important,” said Twitter CEO Parag Agrawal.

Elon Musk first submitted his proposal to acquire Twitter after it was revealed that he would no longer be joining the company’s board of directors. While it was initially believed that Twitter would reject the offer, things changed as discussions went on with shareholders and Elon Musk over the past week.

It likely won’t be long until we start to see the impact of Twitter’s change in ownership. To learn more about whatever Twitter changes Elon Musk has up his sleeves, stick with Shacknews.

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Star Wars nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_

From The Chatty
  • reply
    April 25, 2022 11:59 AM

    Donovan Erskine posted a new article, Twitter (TWTR) accepts Elon Musk's $44 billion deal

    • reply
      April 25, 2022 12:07 PM

      So, who's going to cancel their Twitter account because of this?

      • reply
        April 25, 2022 12:32 PM

        I don't know. the fact that all content is gated (I use city light, other public entities) to be behind a logon.... I just don't know how this will go.

      • reply
        April 25, 2022 12:34 PM

        Already did for one account. The other I'll do once I see where some of the people I follow are going.

      • reply
        April 25, 2022 12:57 PM

        I probably will, tbh.

      • reply
        April 25, 2022 1:01 PM

        I never used it in the first place.

        • reply
          April 25, 2022 1:32 PM

          Yeah, I don’t have a personal account. Not sure if I’ll delete my business one. I rarely use it anyway.

      • reply
        April 25, 2022 1:21 PM

        I've been boycotting since? Oh when did Twitter come out?

      • reply
        April 25, 2022 1:30 PM

        wait for the day they make it official so Elon can't back out and he wastes a whole bunch of money

      • reply
        April 25, 2022 1:32 PM

        i actually like some of what Elon does and I'm still cancelling. more of a reminder to do it, tbh.

      • reply
        April 25, 2022 1:50 PM

        I’ll leave with a ban, otherwise I’ll stick around

      • reply
        April 26, 2022 5:31 AM

        Sorry I meant to inf. Elon musk is a piece of shit and I’m going to delete mine

      • reply
        April 26, 2022 5:36 AM

        Not right away. I am working on setting up Feedly to monitor twitter accounts, though.

    • reply
      April 25, 2022 12:10 PM

      Why does he want it so bad? Like, what's his end goal here?

      • reply
        April 25, 2022 12:11 PM

        It’s insane. Like Howard Hughes crazy.

        • reply
          April 25, 2022 12:31 PM

          It's the way of the future

          the way of the future

        • reply
          April 25, 2022 1:40 PM

          He's the closest thing our generation has to Howard Hughes. Except he sucks more.

      • reply
        April 25, 2022 12:12 PM

        A kid on twitter snubbed him about shutting down their account.

        • reply
          April 26, 2022 1:30 AM

          I honestly think this is one of the primary reasons.

      • DM7 legacy 10 years
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        April 25, 2022 12:12 PM

        Unban trump

      • reply
        April 25, 2022 12:28 PM

        Unban all the banned far-right asshats, allow hate speech and misinformation, remove the 'woke' people he hates so much?... So many reasons.

        • reply
          April 25, 2022 12:32 PM

          Which far right asshats does he think were unfairly banned? I don't think he's a Trump fan.

          • reply
            April 25, 2022 12:33 PM

            he's now holding lots of data that people will pay LOTS of money to have purged.

          • Zek legacy 10 years
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            April 25, 2022 12:48 PM

            He's being very vocal about making changes at Twitter to emphasize "free speech". I don't know what that means if not unbanning people like Trump.

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              April 25, 2022 12:59 PM

              the mid terms are coming. musk is no idiot, he's tracking this in terms of return on investment.

              he wants to unban trump instantly, and anyone affiliated with him - it will make his 44 billion dollars back in about 3 months. free speech means monetize the hate speech, monetize the opportunities that he alone as a private company can do. removing the SEC and any other oversight means he's going to get REALLY rich very quickly.

              no shareholders, no reporting requirements. unlimited return on investment potential since twitter has no competition.

              • reply
                April 25, 2022 1:39 PM

                So you think a guy that heavily invests in renewable energy, space travel with NASA as its biggest customer, and hyperloop travel, wants to destabilize the United States? Seems like a further divided, or collapsed, America would threaten all his future projects, right?

                • reply
                  April 25, 2022 1:44 PM

                  it's going private. the entirety of twitter. everything changes, it's not just him. he has a major major thing on his hands that people with LOTS OF MONEY are going to want to lobby him about.

                  the entire twitter algorithm is now a private toy and you can be absolutely fucking certain that he's being contacted right now with top bidding to achieve whatever goals they want.

                  it won't threaten his future projects at all.

              • Zek legacy 10 years
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                April 25, 2022 1:40 PM

                Is Twitter even profitable? Maybe Musk will figure out how to make money with it, but probably not $44b any time soon. If it was easy I'm sure they would have done it by now.

      • reply
        April 25, 2022 12:29 PM

        churn. monetize the hate speech. revel in massive profiteering opportunities from stock price manipulation.

      • reply
        April 25, 2022 12:33 PM

        People weren’t talking about him enough

      • reply
        April 25, 2022 12:33 PM

        Saw someone on Twitter that it’s like buying a sports team. He just wants to own his own brand of toys for fun.

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        April 25, 2022 12:55 PM

        We should have a poll on whether he unbans Trump. Though I feel like it would be overwhelmingly "yes" on here. And for good reason.

      • reply
        April 25, 2022 1:31 PM

        Truth Social failed and this is their backup plan

      • reply
        April 25, 2022 7:35 PM

        Remove the bias inherent in current policy's outcomes. It's a step in a direction of dissolving the TDM that politics has become lately.

      • reply
        April 25, 2022 11:57 PM

        Literally because a kid wouldn’t shut down a Twitter account that tracked his private jet’s flights

    • reply
      April 25, 2022 12:31 PM

      Not sure if I’m excited about him owning it, but the guy does get shit done. So I guess we will see.

    • reply
      April 25, 2022 12:37 PM

      Rio Democracy

    • reply
      April 25, 2022 1:52 PM

      Mr Free Fucking speech that also got his fee fees hurt when his jet was being tracked

      • reply
        April 25, 2022 2:16 PM

        Damn that Elon, always knows how to win me back after being a shithead.

    • reply
      April 25, 2022 2:25 PM

      I know a few people working there who will be put in an odd position: working for a private musk company.

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        April 25, 2022 6:15 PM

        I'm sure they'll find another job quickly if they want.

      • reply
        April 26, 2022 4:38 AM

        that will be the name of my holding company, private musk.

    • reply
      April 25, 2022 5:15 PM

      44 bucks? Damn I could have bought it!

      After a bizarre back and forth over the past several weeks, Twitter (TWTR) has officially accepted Elon Musk’s $44 acquisition offer.

    • reply
      April 25, 2022 6:24 PM

      Man this is a dark, dumb timeline.

    • reply
      April 25, 2022 6:46 PM

      Imagine the good things you could do for the world with 44 billion dollars. Or buy twitter.

      • reply
        April 25, 2022 7:00 PM

        The ultra rich are fucking bored to fuck. They see no value in the rest of civilization. The ROI just isn’t enticing.

        I honestly wonder if someone can calculate how much wind and solar power could be deployed for 44 BILLION DOLLARS

    • reply
      April 25, 2022 6:54 PM

      Someone should start a betting pool on the date Trump posts on Twitter again. I know he said he wouldn't.

    • reply
      April 25, 2022 7:07 PM

      What's sad about this whole thing is that Musk, who started Tesla/SpaceX with the claimed intention of saving the planet/humanity, is going to help bring extremist right wing governments in to power who will help accelerate its destruction instead. He's the same breed of egomaniacal capitalist billionaire as the rest of them, despite his initial mission statement. What a disappointing fraud of a man.

      • reply
        April 25, 2022 8:11 PM

        Pro tip: All billionaires are pieces of shit.

      • reply
        April 25, 2022 10:32 PM

        He bought Tesla. He didn't start it.

        • reply
          April 26, 2022 12:25 AM

          Correction: He started Tesla and SpaceX and Twitter from scratch in his parent's one bedroom apartment during a global pandemic and how did you spend the last two years just watching NEtflix?

        • reply
          April 26, 2022 5:33 AM

          Musk is a shit head, but let’s be honest. The Tesla he bought was pretty much worthless.
          The dude is good at finding something he wants to do and making it happen.

    • reply
      April 25, 2022 7:15 PM

      It's Dave Smith's fault
      https://i.imgur.com/BQXnHdx.jpg

    • reply
      April 25, 2022 7:47 PM

      Why would you pay $43Billion for a free app?
      https://i.imgur.com/Z2HPleH.mp4

    • reply
      April 26, 2022 4:50 AM

      because a publically traded private company is in the process of being sold to a private owner, lefties think this is the end of Democracy?

      (also the irony of righties thinking that being banned from Twitter is the herald of the end of freedom)

      we've hosted the "town square" in someone's basement apartment and are mad that the people who live upstairs are tired of all the stupid noise being made... and expected what?

      • reply
        April 26, 2022 5:29 AM

        It is more the specific person than the fact it is being sold to a private owner.

        • reply
          April 26, 2022 5:40 AM

          I'm not a musk fan but there are far worse billionaires to own it. See every other media company.

    • reply
      April 26, 2022 4:51 AM

      When is Elon goingi to offer to buy the Shack?

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