Elon Musk buys Twitter


The social network has accepted the latest purchase offer from the world’s richest person, of about $44,000 million.

Elon Musk He has finally achieved what he wanted to achieve. Twitterone of the world’s most influential social networks, announced Monday that it has accepted the purchase offer of the world’s richest person for $44,000 million (€41,000 million).

“Twitter’s board of directors undertook an extensive and detailed process to review Elon’s proposal with a conscious focus on value, security and financing. The proposed transaction will indeed deliver a substantial premium, and we believe it is the best way forward.” Twitter shareholders,” said independent chairman of the board, Bret Taylor.

The transaction is subject to approval by Twitter shareholders in a vote at the shareholders’ meeting. The municipality expects the operation to be completed in 2022.

According to the terms of the offer, Elon Musk Will Pay Each Twitter Shareholder $54.2 Cash For Each Of His Titles This is a 54% premium from January 28, when Musk began buying Twitter stock, as well as a 38% premium from April 1, when he disclosed his position in the company.

“Freedom of speech is the foundation of a functioning democracy and Twitter is the digital town square where topics important to the future of humanity are discussed,” Musk said.

The entrepreneur, owner of Tesla and SpaceX, has added that he wants to make the social network “better than ever” by improving the product, making the algorithms open source, killing spam bots and verifying all human users

There are no financial conditions that must be met to complete the transaction. Musk has secured financing through debt and a margin loan worth $25.5 billion. Likewise, it contributes to the operation a capital commitment of 21,000 million (19,597 million euros).

Shortly before the purchase was confirmed, Musk was already the full owner of the social network. “I hope even my worst critics stay on Twitter because that’s what free speech is,” he wrote.

Source: EITB


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