Singapore markets closed
  • Straits Times Index

    3,134.87
    -5.34 (-0.17%)
     
  • S&P 500

    3,821.55
    -78.56 (-2.01%)
     
  • Dow

    30,946.99
    -491.31 (-1.56%)
     
  • Nasdaq

    11,181.54
    -343.06 (-2.98%)
     
  • BTC-USD

    20,048.42
    -943.11 (-4.49%)
     
  • CMC Crypto 200

    432.64
    -17.42 (-3.87%)
     
  • FTSE 100

    7,317.47
    -5.94 (-0.08%)
     
  • Gold

    1,833.00
    +11.80 (+0.65%)
     
  • Crude Oil

    113.36
    +1.60 (+1.43%)
     
  • 10-Yr Bond

    3.1550
    -0.0510 (-1.59%)
     
  • Nikkei

    26,804.60
    -244.87 (-0.91%)
     
  • Hang Seng

    21,996.89
    -422.08 (-1.88%)
     
  • FTSE Bursa Malaysia

    1,451.48
    -3.26 (-0.22%)
     
  • Jakarta Composite Index

    6,942.35
    -54.10 (-0.77%)
     
  • PSE Index

    6,303.19
    -42.22 (-0.67%)
     

Elon Musk to buy Twitter for $44 billion

·1-min read
FILE PHOTO: Tesla CEO Musk and CDU party leader Laschet visit the construction site of Tesla's Gigafactory in Gruenheide near Berlin

(Reuters) -Elon Musk clinched a deal to buy Twitter Inc for $44 billion on Monday in a transaction that will shift control of the social media platform populated by millions of users and global leaders to the world's richest person.

Discussions over the deal, which last week appeared uncertain, accelerated over the weekend after Musk wooed Twitter shareholders with financing details of his offer.

Under pressure, Twitter started negotiating with Musk to buy the company at the proposed $54.20 per share price.

The deal ends Twitter's run as a public company since its 2013 initial public offering.

"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," Musk said in a statement.

Twitter's shares were up about 6% following the news.

(Reporting by Nivedita Balu Akash Sriram in Bengaluru; Editing by Sriraj Kalluvila)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting