Twitter has confirmed that it will accept Elon Musk’s bid to purchase the company for $54.20 per share. This comes after Elon Musk earlier this month made his “best and last” offer to take the firm private. The complete information on Elon Musk’s acquisition of Twitter may be seen here.
Elon Musk is buying Twitter
According to initial reports, Twitter was not interested in accepting Musk’s offer to buy the firm. To avert a hostile takeover, Twitter’s board of directors approved a “poison pill.” Then, earlier on Monday, rumors said that the offer was being considered by Twitter’s board of directors, and that the firm may announce the agreement as early as Monday afternoon.
That has finally come to pass, with Twitter announcing that Musk’s bid to buy the firm has been accepted. The transaction is priced at $54.20 per share, or $44 billion in total. This ensures that stockholders in Twitter will earn $54.20 per share.
“Twitter has a purpose and significance that influences the entire globe,” stated Twitter CEO Parag Agrawal. We are extremely proud of our staff and motivated by work that has never been more critical.”
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated, I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”
Elon Musk
“Twitter has a purpose and significance that influences the entire globe,” stated Twitter CEO Parag Agrawal. We are extremely proud of our staff and motivated by work that has never been more critical.”
The Twitter Board of Directors “unanimously authorized” the purchase, which is scheduled to finalize this year.
Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.
Parag Agrawal, Twitter’s CEO
Musk feels that in order for Twitter to “thrive,” it has to go private. Tesla and SpaceX CEO Elon Musk has said that Twitter does not reflect free-speech ideals and that the firm “would neither survive nor serve this social need” in its current state.
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.
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.
Elon Musk
What do you make of Twitter’s acceptance of Musk’s acquisition offer? Let us know down in the comments.
