Twitter has announced that it has accepted Elon Musk's offer to take over the company reports international news media.

According to media report, the social-media company said it has entered into a definitive agreement to be acquired by an entity wholly owned by the Tesla CEO in a deal valued at approximately 44 billion dollars.

Twitter will become a privately held company.

This marks a significant turn of events. Twitter initially adopted a so-called "poison pill" plan in response to Musk's buyout attempt.