Twitter Accepts Elon Musk’s $44 Billion Takeover Bid

Twitter Accepts Elon Musk’s $44 Billion Takeover Bid

FILE PHOTO: Elon Musk’s twitter account is seen on a smartphone in front of the Twitter logo in this photo illustration taken, April 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Company agrees to billionaire’s $54.20-per-share offer

By Andrew Moran – April 25, 2022 – Updated: April 26, 2022

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Twitter’s board of directors has approved Elon Musk’s offer to purchase the social media firm and take it private in a transaction valued at about $44 billion, the company announced on April 25.

The company accepted the billionaire entrepreneur’s proposal of $54.20 per share in cash.

“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,” CEO Parag Agrawal said in a company statement.

Musk said in a statement: “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential—I look forward to working with the company and the community of users to unlock it.”

It’s been a roller coaster ride since Musk first acquired a 9.2 percent stake in the tech company earlier this month. From rejecting a seat on the company’s board to multiple Twitter polls sponsored by the billionaire CEO, there have been many twists and turns in recent weeks. Read the rest at theepochtimes.com.

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1 comment
  • The only way this will make a difference is if Trump, Alex Jones and a jillion other conservative voices are allowed back onto the site and if the other techy-turd giants don’t go out of their way to quash twitter once Musk takes over and begins making the much-needed changes.