After numerous controversies surrounding Elon Musk’s takeover of Twitter, the deal has finally been sealed. According to emerging reports, the Tesla CEO concluded the takeover at $54.20 per share, totaling an equivalent value of $44 billion.
Reports of the deal’s completion started circulating earlier this month after Musk’s legal team filed paperwork to Twitter’s lawyers and the Securities and Exchange Commission (SEC).
The takeover deal has initially struggled to cross the finish line after suffering numerous setbacks, with Elon Musk eventually looking to pull the plug on the agreement. Explaining his decision to back out, the Tesla CEO cited the number of bots on the micro-blogging app.
It’s noteworthy that the Twitter deal was long-anticipated, not only by Musk’s avid fans, but also by those hopeful of what it could mean for the future of virtual assets.
