Elon Musk completed the acquisition of Twitter, a microblogging and social networking services provider, for $44bn. "I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy. However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company. As a result, I am offering to buy 100% of Twitter for $54.2 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder," Elon Musk. On April 25, 2022, Twitter agreed to $44bn deal with Elon Musk. On April 27, 2022, Twitter will be required to pay a termination fee of $1bn under certain circumstances if it ends an agreement to be acquired by Elon Musk for $44bn. On May 10, 2022, Musk's $44bn Twitter deal at risk of being repriced lower. On June 8, 2022, Twitter plans to have shareholder vote by August on sale to Elon Musk. On October 28, 2022, Elon Musk completed the acquisition of Twitter.