Elon Musk Buys Twitter: DOGE Reacted With a Jump Up By 24%

Twitter has accepted billionaire Elon Musk’s $44 billion offer to acquire the social network.

According to the press service of Twitter, Musk will pay $54.2 per share – 38% more than their value as of April 1, when he acquired 9.2% of the company’s shares.

Elon Musk spent $21 billion to buy the social network. Another $25.5 billion was provided to the entrepreneur by a group of banks led by Morgan Stanley.

The deal is expected to be completed by the end of 2022, after which Twitter will become a private company.

Twitter’s independent chairman Bret Taylor said the board had carefully considered the takeover and concluded it was “the best course of action for shareholders.”

Commenting on the deal, Musk said he hopes his fiercest critics won’t leave the platform, “because that’s what freedom of speech means.”

Following the news of Elon Musk’s Twitter purchase, Dogecoin (DOGE) jumped 24.2%, according to CoinGecko.

On the evening of April 25, the price of DOGE rose sharply to $0.17. At the time of writing, the rate has corrected to around $0.16.

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