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Twitter said on Monday it had accepted billionaire Elon Musk’s offer to buy the social media company for an estimated $44 billion.
Twitter chairman Bret Taylor said the sale represents the best path for the company, and Mr. Musk said he looks forward to unlocking the company’s full potential.
“Freedom of speech is the cornerstone of a functioning democracy, and Twitter is the digital town square where issues vital to the future of humanity are discussed,” Musk said in a statement. “I also want to make Twitter better than ever by enhancing the product with new features, open-source algorithms to increase trust, defeating spam bots, and verifying the identity of all people.”
Twitter said the deal is expected to be completed this year.
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