Current shareholders will receive $54.20 per share for their shares. That is as much as the proposal that Musk announced earlier this month. Then the consent of Twitter itself was only missing. The company’s management wanted to carefully study the unsolicited offer. To save time, a kind of protective construction was even set up.
Musk previously indicated that he himself doubted whether his takeover attempt would succeed. It later became clear that the businessman, who already owned more than 9 percent of Twitter before his takeover bid, had already started polling other investors to participate in his plans. In the end, Musk managed to get the unanimous approval of the Twitter board.
Regulators will probably still look at the deal in the near future. The acquisition is expected to be completed before the end of the year.