Elon Musk has finally acquired Twitter after a weekslong saga during which he first became the company's largest shareholder, then offered to buy it outright.
The world's richest person secured a deal on Monday, agreeing to buy the social network for $54.20 a share — valuing the firm at roughly $44 billion.
What comes next for Twitter is anyone's guess. Over the past few weeks, Musk has hinted at changes he would like to see the platform make, but has stopped short of laying out a road map for the direction he wants to take Twitter.
In a statement released after the deal was reached, Musk called Twitter "the digital town square where matters vital to the future of humanity are debated" and said he looks forward to tapping into the company's "tremendous potential."
Here's what to know about Musk's plans for Twitter.
Twitter is likely going private
Musk has said that part of the reason he wanted to acquire Twitter is because, in his view, the changes that need to be made to the platform can only be done if it's a private company.
It's a sentiment that Musk shares with Twitter co-founder and ex-CEO Jack Dorsey, who tweeted on Monday that the company "has been owned by Wall Street and the ad model." Dorsey said that going private "is the correct first step."
Though Twitter's board unanimously approved the sale, the deal will still need to be approved by shareholders and be subject to a regulatory review. CEO Parag Agrawal said he expects the deal will close in the next three to six months.
"Shareholders are going to have to look at whether or not they think this is the best deal they can get with Twitter or whether they can do better without Musk," Eleanor Bloxham, CEO of corporate advisory firm The Value Alliance, tells CNBC Make It.
If they accept Musk's buyout offer, they will be able to sell their shares for $54.20 each. Shareholders can also hold onto them until the day the company goes private, at which point they will be cashed out at the current trading price.
