Twitter said earlier today that its board of directors has authorized a bid from billionaire Elon Musk to buy the social media platform and take it private.
Shares closed the day up 5.64 percent after a short pause to take in the shocking news.
According to a press release, the cash transaction for $54.20 per share is worth $44 billion. Before Twitter to become a private company, shareholders and authorities must accept the transaction.
