Elon Musk acquires Twitter for $44 billion

Twitter’s board of directors has accepted an offer from billionaire Elon Musk to buy the social media company for $54.2 per share, in a deal valued at $44 billion. Twitter will cease to be listed on the stock market after this acquisition by the leader of Tesla.

“Freedom of expression is the foundation of a functioning democracy, and Twitter is the digital public square where issues vital to the future of humanity are debated,” Musk said in a comment included in the press release announcing the agreement. the purchase.

“I also want Twitter to be better than ever by improving the product with new features, making the algorithms open source to increase trust, defeating spam bots, and authenticating all humans.”. she added.

Twitter CEO Parag Agrawal also applauded the deal via tweet. “Twitter has a purpose and relevance that impacts everyone”said.

“Deeply proud of our teams and inspired by the work that has never been more important,” he said.

According to the details provided on the deal, it has been unanimously approved by the board of directors and is expected to close this year after a green light from shareholders, regulators and other customary conditions.

The independent chairman of the board of Twitter, Bret Taylor, explained that the body has evaluated Musk’s proposal focusing on “value, certainty and financing”, and considered it beneficial for shareholders. (I)