Elon Musk Lands Deal to Take Twitter Private for $44 Billion (3)

Billionaire entrepreneur Elon Musk agreed to buy Twitter Inc. for $44 billion, using one of the biggest leveraged buyout deals in history to take private a 16-year-old social networking platform that has become a hub of public discourse and a flashpoint in the debate over online free speech.

WATCH: Elon Musk is taking Twitter private in a deal worth $44 billion.

Markets: The Close.”

Investors will receive $54.20 for each Twitter share they own, the company said in a statement Monday. The price is 38% more than the stock’s close on April 1, the last business day before Musk disclosed a significant stake in the company, sparking a share rally.

Musk, one of Twitter’s most-watched ...