Elon Musk's attempt to take over Twitter Inc. TWTR 5.66 percent was accepted on Monday, giving the world's richest man control over the social-media network where he is also one of its most important users.

The $44 billion transaction ends a dramatic courtship and a change of heart at Twitter, where many executives and board members resisted Mr. Musk's takeover approach at first. Employees, consumers, and regulators are divided about the power that digital companies possess in setting the bounds of acceptable internet discourse and how those companies enforce their rules.

Mr. Musk hopes to take Twitter private, and the two sides labored through the night to reach an agreement.

If approved, the acquisition would be one of the largest in tech history, with worldwide ramifications for years to come, including the potential to reshape how billions of people use social media. Mr. Musk will bring to a company that has struggled to match unrestrained conversation with material that appeals to advertisers his dedication to a more hands-off approach to expression.

Mr. Musk tweeted on Monday, saying he wants the platform to be a place for diverse debate and disagreement.

"I hope even my harshest critics stay on Twitter," he added, "because that is what free expression entails."

After the transaction was announced, Mr. Musk stated that he intends to improve Twitter's user experience, in part by providing new features and combating spam. The billionaire, who also serves as CEO of Tesla Inc. and Space Exploration Technologies Corp., has a track record of defying industry norms.


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