Eccentric billionaire Elon Musk has purchased social media platform Twitter for $44bn, or $54.20 per share, in a move that has been described by commentators as a “long-standing soap opera with a twist at the end”.
Yesterday evening (25 April), the Tesla founder's offer to purchase the entirety of the company was accepted by its board, less than four weeks after he purchased a 9.2% stake in the company. On the 10 April, it was confirmed that Musk would not be taking a position on the firm's board, which indicated he planned to make a bid for the company. This was confirmed on 14 April, when Musk offered to buy Twitter for $41bn in what was described by investment professionals as a "deeply hostile" takeover bid, given he threatened to reconsider his existing stake if his proposal was rejected. L...
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