Elon Musk Purchases Twitter for $44 Billion, Social Media Company Will Transition to a Private Company

On Monday, Twitter announced that Elon Musk has officially acquired the societal media level for $54.20 per stock successful a transaction valued astatine $44 billion. After the transaction completes, Twitter volition modulation to a backstage company.

Musk Acquires Social Media Platform Twitter — Aims to Enhance Free Speech and Unlock Twitter’s Potential

Tesla’s Elon Musk officially acquired Twitter connected April 25, 2022, successful a transaction valued astatine $44 billion. The woody came 21 days aft Musk took a 9.2% stake successful Twitter Inc. connected April 4. The $54.20 per stock terms volition springiness shareholders a 38% premium to Twitter’s closing banal terms connected the archetypal of April. That was the past trading time Twitter had anterior to Musk’s connection to acquisition the societal media firm.

“The Twitter Board conducted a thoughtful and broad process to measure Elon’s connection with a deliberate absorption connected value, certainty, and financing,” Bret Taylor, Twitter’s autarkic committee seat explained during the acquisition announcement. “The projected transaction volition present a important currency premium, and we judge it is the champion way guardant for Twitter’s stockholders.”

Elon Musk besides made a connection during the acquisition announcement connected Monday and helium highlighted however escaped code is needed successful society. “Free code is the bedrock of a functioning democracy, and Twitter is the integer municipality quadrate wherever matters captious to the aboriginal of humanity are debated,” Musk explained. The Tesla enforcement and present proprietor of Twitter further said:

I besides privation to marque Twitter amended than ever by enhancing the merchandise with caller features, making the algorithms unfastened root to summation trust, defeating the spam bots, and authenticating each humans. Twitter has tremendous imaginable – I look guardant to moving with the institution and the assemblage of users to unlock it.

Furthermore, past week Musk explained however helium wanted to amended Twitter by making the relationship verification process easier, and perchance implementing dogecoin payments. Since the quality broke earlier this greeting indicating that Musk was negotiating with Twitter, dogecoin prices person surged by 26.3% today. Following the acquisition announcement, DOGE added 10% to its full 24-hour percent gains.

What bash you deliberation astir Elon Musk acquiring Twitter for $44 billion? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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