Elon Musk is now officially Mr Twitter, the social media company has already accepted an offer to be fully acquired by a wholly owned Tesla chief in an agreed deal of approximately US$44 billion. In recent weeks, a mountain Russian has developed speculations and suggestions. Since Musk revealed it has acquired a 9.2% stake in the company, experts have indicated a hostile takeover is underway. Twitter, on the other hand, limited Musk’s maximum participation in the company to 14.9% and offered him a seat on the board, which Musk later resigned.
A few days later, Musk announced that he was offering to buy Twitter in its entirety. Wall Street has been skeptical of Musk’s ability to raise as much as $40 billion to embed Twitter, and the company has adopted a “toxic pill” strategy to ignore Musk’s claims. Meanwhile, the billionaire logo outlined a plan where we would attract companies from a consortium of banks led by Morgan Stanley and invest in stocks backed by Tesla stock. Following the offer, the Twitter council met at the end of the week and continued talks with Musk through the first few hours of Monday.
All this dispute with the council and speculation on Wall Street has finally come to an end. According to the Press Communications official, Elon Musk has taken over Twitter for a promotional price of US$54.20 each, the same value he presented a few days ago in his first “best and last” offer. When analyzing the shares, the liquid value of the acquisition is around US$44 billion. As Musk had previously promised in previous tweets, the company is now privately owned. Interested parties will receive US$54.20 for any action taken by the company once the transaction is finalized and regulatory approval is received. Logo after the confirmation of the company, Musk tuitou That “the days of glory“I just started.
Musk reiterated his stance that the social media platform was a “digital city square” where questions of significant importance to humanity were discussed. He also insisted that free speech was based on a functioning democracy just weeks after Musk criticized Twitter for failing to adhere to the principle of free speech. Regarding their plans to move the platform forward, Musk notes that it will unlock the algorithm’s code, which isn’t surprising recently, given the world’s richest man commented on this in previous tweets. †I also want to make Twitter better than ever and approve the product with new resourcesHe added. It looks like the promised change to the blue crack verification system will also happen. Another move that Musk appears to be on Twitter’s immediate agenda is to fight the threat of bots, although he doesn’t like it. idea has not developed since then.
†Twitter has purpose and relevance that affects the world within. Deeply proud of our teams and inspired by work that has never been more importantTwitter CEO Parag Agrawal said. As for the financial aspects of the deal, Musk paid for his latest purchase of $25 billion in dividends and financing from margin companies, while the remaining $21 billion is in the form of a capital pledge, apparently against his stake in Tes. originally discussed. in an SEC filing last week. Musk recently tweeted that if Twitter goes private, councilors’ pay will be cut to zero. Not at all, no Twitter, not Musk, I won’t say anything about these plans just yet.
Source: Twitter/PR News, Elon Musk/Twitter