Elon Musk Confirmed to Obtain Twitter for $44 Billion
Elon Musk clinched a deal to purchase Twitter for $44 billion on Monday in a transaction that will shift control of the social media platform populated by countless users and global leaders to the world’s wealthiest person.Discussions over the
offer, which recently appeared unsure, sped up over the weekend after Musk wooed Twitter shareholders with financing details of his offer.Under pressure, Twitter started working out with Musk to
purchase the business at the proposed$54.20 per share rate. The deal ends Twitter’s run as a public business given that its 2013 initial public offering.Parag Agrawal, Twitter’s CEO, said,” Twitter has a purpose and importance that impacts the whole world. Deeply happy with our teams and influenced by the work that has
never been more crucial. “”Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters crucial to the future of mankind are disputed,”
Musk stated in a declaration, adding,” I also desire to make Twitter better than ever by improving the product with new functions, making the algorithms open source to increase trust, defeating the spam bots, and validating all people. Twitter has tremendous potential– I look forward to dealing with the business and the community of users to unlock it.”Twitter’s shares were up about 6 percent following the news. © Thomson Reuters 2022 Released at Mon, 25 Apr 2022 19:14:28 +0000