Elon Musk's bid for Twitter is confirmed by the company's board of directors.

Once the transaction is done, Twitter will be a privately held company.

Twitter has entered into a final agreement to be bought by a company entirely owned by 

Elon Musk for $54.20 per share in cash in a transaction valued at about $44 billion.

Twitter shareholders will get $54.20 in cash for each share of Twitter stock they own.

Mr. Musk has secured $25.5 billion in fully committed debt and margin loan funding, 

as well as an equity commitment of about $21.0 billion.

Trump's social media company may be jeopardised as a result of Musk's ownership of Twitter.

Why did Elon Musk change his name?

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