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.