Twitter has agreed to Musk’s offer on a takeover bid deal. Its shares halted pending news of the sale!
Previously news broke that the deal could be made today, and Bloomberg reported that the company is in the final stretch of negotiations with Musk.
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Twitter re-examined Musk’s $43 billion takeover supply once he lined up financing for the bid.
Tim Swain, a candidate for the South Carolina House of Representatives, shared the news that Twitter has been sold to Elon Musk.
BREAKING: Twitter and Elon Musk have officially reached a deal. Historic.
— Tim Swain (@SwainForSenate) April 25, 2022
“I hope that even my worst critics remain on Twitter because that is what free speech means,”
I hope that even my worst critics remain on Twitter, because that is what free speech means
— Elon Musk (@elonmusk) April 25, 2022
The Verge reported:
Twitter has accepted Elon Musk’s offer to purchase the company for $44 billion, the company announced in a press release today. Musk purchased the company at $54.20 a share, the same price named in his initial offer on April 14th.
“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,” said Musk in a statement included with the release. “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 CEO Parag Agrawal also applauded the deal in the release. “Twitter has a purpose and relevance that impacts the entire world,” Agrawal said in an accompanying statement. “Deeply proud of our teams and inspired by the work that has never been more important.”