The social network has accepted the latest purchase offer from the world’s richest person, of around 44,000 million dollars.
Elon Musk He has finally achieved what he set out to do. Twitterone of the most influential social networks on the planet, announced this Monday that it has accepted the purchase offer of the richest person in the world for 44,000 million dollars (41,000 million euros).
“Twitter’s board undertook a comprehensive and detailed process to assess Elon’s proposal with a deliberate focus on value, certainty, and funding. The proposed transaction will achieve a substantial premium indeed, and we believe it is the best path forward.” Twitter shareholders,” said the independent chairman of the board, Bret Taylor.
The transaction is subject to Twitter shareholders giving their approval in a vote at the shareholders’ meeting. The council expects the operation to be completed in 2022.
According to the terms of the offer, Elon Musk will pay each Twitter shareholder $54.2 in cash for each of his titles. This is a 54% premium over January 28, when Musk started buying Twitter shares, as well as a 38% premium over April 1, when he disclosed his position in the company.
“Freedom of expression is the foundation of a functioning democracy and Twitter is the digital town square where issues important to the future of humanity are debated,” Musk said.
The businessman, owner of Tesla and SpaceX, has added that he wants to make the social network “better than ever” by improving the product, making the algorithms open source, killing spam bots and verifying all human users.
There are no financial conditions to be met for the closing of the transaction. Musk has secured financing through debt and a margin loan worth 25.5 billion dollars (23.796 million euros). Likewise, it contributes to the operation a capital commitment of 21,000 million (19,597 million euros).
Shortly before the purchase was confirmed, Musk was already the full owner of the social network. “I hope even my worst critics stay on Twitter, because that’s what free speech is all about,” he wrote.
I hope that even my worst critics remain on Twitter, because that is what free speech means
— Elon Musk (@elonmusk) April 25, 2022
Source: Eitb
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