Twitter announced that Elon Musk has accepted an offer to buy the company for $44 billion. Musk bought the company at $54.20 per share at the price stated in his initial offer on April 14.
Musk, regarding the purchase, said, “Freedom of speech is the cornerstone of a functioning democracy, and Twitter is the digital town square where issues vital to the future of humanity are discussed. I also want to make Twitter better than ever by enhancing the product with new features, open-source algorithms to increase trust, defeating spam and verifying the identity of all people.” used the expressions.
Twitter CEO Parag Agrawal said, “Twitter has a purpose and level of interest that affects the whole world. We are deeply proud of our teams and inspired by the work that matters more than ever before.” said.
Twitter’s Board of Directors unanimously approved the deal, expected to close in 2022, subject to regulatory and shareholder approval. Elon Musk has provided $25.5 billion in full commitments in debt and margin loan financing and approximately $21 billion in equity commitments. There are no financing conditions for closing the transaction.
It’s unclear what impact Musk will have on Twitter or where to start with the changes. When Musk first announced his 9.2 percent stake in Twitter, he surveyed Twitter users about the creation of an edit button that Twitter was already developing. He then suggested mixing ads from Twitter Blue, lowering the subscription price and adding Dogecoin as a payment option.
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