It’s official! After back and forth with Elon Musk, Twitter has accepted his offer to buy the company for about $ 44 billion! CNN reports that the deal will take the company private, and the billionaire has become one of Twitter’s largest shareholders. With everyone talking about the purchase, let’s get into the tea about the terms of the deal! CNN reports that shareholders will receive $ 54.20 in cash for each share of Twitter shares they own.
This will match Elon’s initial offer and mark a premium of 38% above the share price before Musk revealed its stake in the company. StockX and Tesla’s CEO issued a statement on the acquisition of the company, saying: “Freedom of expression is the foundation of a functioning democracy, and Twitter is the digital urban space where issues crucial to humanity’s future are discussed. He added:” Twitter has enormous potential – I look forward to working with the company and the user community to unlock it. “
Although the deal, which was unanimously approved by Twitter’s board, is official, it is expected to be finalized and finalized this year. The board met Sunday to evaluate Elon’s offer. Twitter’s independent chairman, Bret Taylor, spoke of the deal, saying: “Twitter’s board conducted a thoughtful and comprehensive process to evaluate Elon’s proposal with a conscious focus on value, security and financing.” He also said the deal was “the best way forward for Twitter shareholders.”
Elon’s name has been trending online all day as many Twitter users expressed concern about the future of the platform. Partly because of his attitude to free speech. One person tweeted, “Elon Musk had better come here, sit down and not touch anything!” Another tweeted, “Elon Musk now owns Twitter. From this day forward, April 25 is” Twitter’s Independence Day. “Roommates, are you looking forward to the changes?
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