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

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 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.