Twitter has unanimously accepted Tesla CEO Elon Musk’s $44 billion offer to take the social media giant private.
The development is an abrupt turn in the ongoing Musk-Twitter saga. Less than 2 weeks ago, Twitter's board adopted an anti-takeover provision known as a "poison pill" signaling that the directors were gearing up to rebuff Musk's offer or perhaps seek a higher bidder.
The deal is expected to close sometime this year. Before then, shareholders still have to weigh in, as well as regulators in the U.S. and abroad where Twitter does business.Twitter hasn't announced the timing of a shareholder vote, though the company's annual meeting is set for May 25, which could offer a convenient time to poll shareholders.
"Billionaires like Elon Musk play by a different set of rules than everyone else, accumulating power for their own gain," Warren tweeted Monday evening. "We need a wealth tax and strong rules to hold Big Tech accountable."
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