- Twitter has accepted Elon Musk's offer to buy the social-media company.
- Twitter's board initially resisted a takeover and last week put up a "poison pill" defense.
- Musk said Thursday he'd amassed up to $46.5 billion to finance the deal.
Twitter accepted Elon Musk's offer to buy the company, it announced Monday — a dramatic coup for the billionaire as he seeks to unlock the social network's "extraordinary potential."
Musk will pay $54.20 per share for Twitter, matching his original offer, totaling $44 billion.
The two parties met Sunday after Twitter executives opted to re-examine Musk's original offer, multiple outlets reported, after he secured roughly $46 billion of financing to back the deal.
Twitter's board initially resisted Musk's attempt to buy the company. It put up a "poison pill" defense to block attempts at a hostile takeover after Musk rejected its offer for a board seat in exchange for limiting his maximum investment.
The deal is expected to close in 2022, pending approval by shareholders and other regulatory approvals, Twitter said.
This is a developing story, please check back for updates...