And Finally! microblogging platform Twitter has accepted Elon Musk’s offer and is reportedly being acquired for $44 billion! This is the biggest social media acquisition surpassing the $26.2 billion price tag Microsoft paid for LinkedIn!
Twitter has announced that it has accepted Musk’s offer to acquire the publicly traded company at $54.20 per share, valuing the social media platform at $44 billion. The company issued a press release confirming that it was accepting Musk’s offer to take the social network private. Upon completion of the transaction, Twitter will become a privately held company.
Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing the proposed transaction. The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.
“The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”
Look what Elon Musk said in his recent tweet –
“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, said Mr. Musk! 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.”
and he said in another of his tweet – “I hope that even my worst critics remain on Twitter, because that is what free speech means”
So best wishes from THETECHMUSK to Mr. Elon Musk and Twitter as well!