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Birmingham Post
Birmingham Post
Technology
Martyn Landi, PA Technology Correspondent, and Luke O'Reilly, PA & Hannah Baker

Elon Musk to buy Twitter for £34.5bn after reaching deal with board

Elon Musk Twitter Inc. Jack Dorsey United States Tesla Inc.

Tech tycoon Elon Musk has struck a deal with Twitter's board to take over the company for $44bn (£34.5bn).

The Tesla and SpaceX chief executive reached an agreement to buy the social media platform for 54.20 US dollars (£42.20) per share. Twitter founder Jack Dorsey welcomed the deal as “the singular solution I trust”.

Mr Dorsey, who founded Twitter in 2006, gave his blessing to the takeover in a series of tweets – hailing the decision to let Mr Musk take the social media platform into private ownership and away from the ad model and Wall Street.

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