Elon Musk plans to buy Twitter for $44 billion, the original price he agreed to back in April, Connor Smith writes in this week's edition of Barron's. When Musk, the co-founder and CEO of Tesla (TSLA), proposed buying Twitter (TWTR) for that $54.20 price, some observers wondered if Twitter would even accept the offer. Twitter stock traded at $39 on April 1, the Friday before Musk disclosed a stake in the social-media firm, but shares had traded as high as $68 in October 2021. Now it looks like Twitter shareholders are getting the favorable deal, with Musk overpaying by a large sum, the author notes.
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