Twitter accepts Elon Musk’s buyout deal of $45 billion
Twitter’s board has accepted an offer from billionaire Elon Musk to buy the social media company and take it private, the company announced Monday.
The stock closed up 5.64% for the day after it was halted for the news.
“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,” Musk said in a statement included in the press release announcing the $44 billion deal. “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.”
The cash deal at $54.20 per share is valued at around $44 billion, according to the press release. Twitter would become a private company on completion of the deal, which requires shareholder and regulatory approval.
Source and more: https://www.cnbc.com/2022/04/25/twitter-accepts-elon-musks-buyout-deal.html
Twitter’s board has accepted an offer from billionaire Elon Musk to buy the social media company and take it private, the company announced Monday.
The stock closed up 5.64% for the day after it was halted for the news.
“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,” Musk said in a statement included in the press release announcing the $44 billion deal. “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.”
The cash deal at $54.20 per share is valued at around $44 billion, according to the press release. Twitter would become a private company on completion of the deal, which requires shareholder and regulatory approval.
Source and more: https://www.cnbc.com/2022/04/25/twitter-accepts-elon-musks-buyout-deal.html
