Tesla CEO Elon Musk Buys Twitter for 44$ Billion
New York 26th April, 2022: In one of the world’s biggest deals within the tech world, billionaire Elon Musk has taken control of Twitter. The deal will see Musk acquire the social network for about $44 billion with shares valued at $54.20. Musk had announced his tender offer on Pan American Day , calling it his ‘best and final offer’.
“Free speech is that the bedrock of a functioning democracy, and Twitter is that the digital town square where matters vital to the longer term of humanity are debated. I also want to form Twitter better than ever by enhancing the merchandise with new features, making the algorithms open source to extend trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I anticipate to working with the corporate and therefore the community of users to unlock it,” Musk said during a press statement posted to his Twitter account.
But his bid initially saw Twitter’s put in situ a ‘poison pill defence’ against the takeover . However, once Musk announced that he had secured funding, the board went into negotiations with the Tesla co-founder. consistent with Wall Street Journal, on Friday, Musk met “privately with several shareholders of the corporate to extol the virtues of his proposal” and also made video calls to them to push for his case.