In recent weeks, Elon Musk has been publicly campaigning to signal his intentions to buy Twitter. Although it is not the most modern social network in the world, remains one of the greatest communication tools between people, since you simply need to write, without having to deal with photos and videos unless you want to. Finally, after many rumors about whether it was going to be bought or not, there has been a official statement in which the sale of Twitter to Elon Musk for 44.000 million dollars is confirmed.
According to the press release, Twitter, Inc. announced today that has reached a final agreement to be acquired by an entity wholly owned by Elon Musk. The purchase was made for $54,20 per share in cash in a transaction valued at approximately $44.000 billion. After the transaction is complete, Twitter will become a private company.
Elon Musk owns Twitter
Under the terms of the agreement, Twitter shareholders will receive $54,20 in cash for each share of Twitter common stock they own at the closing of the proposed transaction. The purchase price represents a 38% premium to Twitter's closing stock price on April 1, 2022, which was the last day of trading before Elon Musk revealed his roughly 9% stake in Twitter. Both Elon Musk and several managers have made official statements regarding the purchase:
Twitter's Board of Directors has gone through a thoughtful and thorough process to evaluate Elon Musk's proposal, deliberately focusing on value, certainty, and funding. The proposed transaction will offer a substantial cash premium, and we believe it is the best course of action for Twitter shareholders.
Bret Taylor, Independent Chairman of the Twitter Board of Directors
Twitter has a purpose and relevance that impacts the world. I am deeply proud of our teams, and inspired by the work, which has never been more important.
Parag Agrawal, CEO of Twitter:
Freedom of expression is the foundation of a functioning democracy, and Twitter is the digital plaza where vital issues for the future of humanity are debated. I also want to make Twitter better than ever by improving the product with new features, making the algorithms open source to increase trust, defeating spam bots, and authenticating all humans. Twitter has huge potential - I'm looking forward to working with the company and the user community to unlock it.
Elon Musk, future owner of Twitter
