The social media giant confirmed Monday the Tesla CEO and billionaire will acquire the company in a deal worth $44 billion.
Elon Musk is set to buy Twitter. Once the deal is complete, which is expected by this year, Twitter will become a privately held company.
Shares of Twitter rose more than 5% in afternoon trading Monday. Last week, Musk said he had lined up $46.5 billion in financing to buy Twitter and had been continuing to negotiate with the company.
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