Elon Musk JUST OFFICIALLY RENAMED Twitter!

Elon Musk JUST OFFICIALLY RENAMED Twitter!

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It is now official that #ElonMusk is going to buy #Twitter. The social media giant confirmed Monday that Tesla CEO Elon Musk, who is also a billionaire, will acquire the company for $44 billion in a deal expected to close on April 28. Upon completion of the deal, which is expected to happen by the end of this year, Twitter will become a privately owned company.

Twitter has agreed to sell itself to Elon Musk for $54.20 a share, which represents a 38 percent premium over the company's share price earlier this month before he disclosed that he was the company's single largest shareholder. And according to data compiled by Dealogic, this deal would be the largest ever to take a company private - something Mr. Musk has said he intends to do with Twitter - in at least two decades.

As Mr. Musk said in a statement announcing the deal, “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.” The deal, which has been unanimously approved by the Twitter board of directors, is expected to close this year, provided that Twitter shareholders approve the deal and certain regulatory approvals are granted. With more than 83 million followers on Twitter and an active presence on the platform hurling gibes and memes, the billionaire has said repeatedly he hopes to "transform" the platform by promoting the freedom of speech and letting users have more control over what appears on the platform.

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