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Elon Musk Buys Twitter

WASHINGTON: Twitter on Monday confirmed the sale of the company to Tesla & SpaceX Chief Elon Musk for USD 44 billion.

The price is 38% more than the stock’s close on April 1, the last business day before Musk disclosed a significant stake in the company, sparking a share rally.

Investors will receive $54.20 for each Twitter share they own, the company said in a statement on Monday.

The price is 38% more than the stock’s close on April 1, the last business day before Musk disclosed a significant stake in the company, sparking a share rally. Musk, one of Twitter’s most prolific users with more than 83 million followers, began amassing a stake of about 9% in January.