Elon Musk To Take Twitter Private Finally, Confirms On Social Media

Elon Musk will be looking to proceed with his original USD 44 billion offer to take Twitter private. The development could see the longstanding jostle between the social media platform and the business tycoon come to an end.

Twitter too has confirmed the development as they said that Musk’s parties have filed with SEC for the deal.

“We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share”, Twitter’s statement said.

The breaking of this news pushed Twitter’s shares higher in the US markets. 

Musk had originally said that he would take Twitter private in April but considered backing out due to his strong stand on bots on the social media platform. 

The long-drawn battle has put a dampener on Twitter’s image and has fed to the tycoon’s popularity. Many legal experts believed that Musk would be forced to pay up even if he did not want to proceed with the Twitter acquisition deal.

Later on Tuesday, Elon Musk took to Twitter to announce that Twitter acquisition would act as an accelerant to creating X, a super app he termed to be an ‘everything app’.