Elon Musk to buy Twitter in $44 billion deal2022-04-25 17:37 by DanielaTags: Twitter, Elon Musk
Twitter said Monday it has agreed to sell itself to Elon Musk, who will take the company private in a deal valued at around $44 billion. This is a surprising turn of events as Twitter's board had appeared to resist Musk’s effort to buy the social media and even adopted a "poison pill" defense earlier this month, after Musk originally made them the offer to buy all outstanding shares for $54.20. "The Twitter Board conducted a thoughtful and comprehensive process to assess Elon's proposal with a deliberate focus on value, certainty, and financing," Twitter's Independent Board Chair Bret Taylor said of the deal. "The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter's stockholders." "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 Monday. "Twitter has tremendous potential - I look forward to working with the company and the community of users to unlock it." Twitter says the transaction, which was unanimously approved by the board, will likely close this year following shareholder and regulatory approval and "the satisfaction of other customary closing conditions." Until those matters are resolved, it's not a done deal. Read more -here-
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