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Twitter deal

Twitter accepts Elon Musk's $44 billion buyout deal

India Blooms News Service | @indiablooms | Apr 26, 2022, at 06:20 am

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.

#Twitter #ElonMusk #TwitterTakeover

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