Twitter deal Twitter accepts Elon Musk's $44 billion buyout deal
San Francisco/IBNS: In a major announcement, Twitter Inc. Monday accepted Tesla CEO Elon Musk's nearly $44 billion takeover offer, a deal ranked as one of the biggest-ever leveraged buyouts of a listed company.
Twitter announced the $54.20-per-share deal after holding a major meeting with its shareholders on Monday.
This comes after Musk had reportedly made his "best and final" offer for the micro-blogging platform.
Soon after the announcement, Twitter CEO Parag Agrawal posted: "Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important."
Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important. https://t.co/5iNTtJoEHf
— Parag Agrawal (@paraga) April 25, 2022
Musk earlier said Twitter needs to be taken private to grow and become a genuine platform for free speech.
In a significant tweet before the deal was finalised, Elon Musk wrote: "I hope that even my worst critics remain on Twitter, because that is what free speech means."
I hope that even my worst critics remain on Twitter, because that is what free speech means
— Elon Musk (@elonmusk) April 25, 2022
Before the deal, Musk owned 9.1 per cent stake in Twitter and was the platform's second-biggest shareholder.
Twitter had previously invited Musk to join its board of directors, but the SpaceX head declined.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
