Elon Musk Buys Twitter for $44 Billion
- The chances of Elon Musk acquiring Twitter are on the rise.
- Twitter is still negotiating Musk’s offer.
Musk’s long fight to acquire Twitter probably will finally end with his victory. News has already broken on the internet that the social networking company is ready to accept the terms and conditions laid down by the Tesla founder.
Elon Musk has been a critic of Twitter’s policies for a long term now. He has been continuously sharing his plans to improve the infrastructure of the company if he takes over it. He was the biggest shareholder of Twitter and recently stated that he would consider his position as a holder if the latter denies his offer.
Finally, on April 25, Twitter started negotiating Musk’s offer of taking over the company for $46.5 billion, as the company’s stock value increased to $51 a share this morning. The arrangement is not yet settled and there are chances of it getting crashed at any moment.
It should be noted that Musk is investing his own money into this deal, and not acting as Tesla’s CEO. Therefore, there are doubts about him being able to fund the whole amount. Sources suggest that Twitter may agree to accept Musk’s “best and final” offer which is $43 billion in cash.
Neither Twitter nor Elon Musk has yet agreed to comment on the matter. However, the billionaire tweeted hours back that for him free speech holds much importance and he would suppress the voice even of his “worst critics.”
The news is finally out! Twitter has accepted Musk’s $44 billion offer. In a statement, Bret Taylor, the Chairman of Twitter said, “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing.” Twitter users are pumped to experience the changes Musk is supposed to bring to the platform, and Twitter itself believes that this “is the best path forward for Twitter’s stockholders.”
The CEO of Twitter, Parag Agrawal, has also shared the news expressing his joy for the deal. However, employees were anxious that they might lose their jobs after the acquisition. This doubt was nullified by the CEO himself who confirmed that the company has no plans for job cuts “at this time” in an all-hands meeting on Monday afternoon.