On April 26, after two weeks, Musk’s acquisition of Twitter was finally settled. On Monday, local time, social media giant Twitter announced that the company’s board of directors had accepted Musk’s takeover offer, agreeing to sell it at $54.2 per share, for a total price of $44 billion.
It is reported that Twitter has reached a final acquisition agreement with Musk, the transaction value is about 44 billion US dollars. After the transaction is completed, Twitter will no longer be listed on the New York Stock Exchange, but will become a privately held company. Separately, the $54.2 per share offer represents a 38% premium to Twitter’s closing price on April 1, 2022.
The deal is expected to close in 2022, subject to Twitter shareholders, regulatory approvals and other transaction conditions.
In response, Musk immediately forwarded the relevant statement, “shouting” Yes!!! to express his excitement. He said in a statement that he will take various measures to make the Twitter platform better, including developing new features to strengthen products, making back-end algorithms open source, increasing external trust, and cracking down on bots that post spam, and real-name authentication. In addition, he added: “I will not delete the most ruthless remarks against me, because this is the true meaning of freedom of speech.”
Shares of Twitter closed up 5.64% after the news. However, the opposite is true for Tesla. Tesla’s stock price fell by more than 2% during the session, and finally closed at $998.02 per share, down 0.7%.
In addition, Musk tweeted that day that he hopes the company will continue to provide a platform for people to express their dissent. Musk also expressed his desire to make Twitter’s algorithm public to make the specific logic of content recommendation and blocking transparent.
Regarding the departure and retention of accounts related to former U.S. President Trump, as of now, Musk has not publicly expressed whether he will restore former President Trump’s Twitter account after acquiring Twitter. Trump, however, said he would not use the platform even if his Twitter account was reinstated. After the riots on Capitol Hill on January 6, 2021, Twitter immediately banned Trump’s account.
In this regard, some netizens said: “Musk’s $44 billion acquisition of the entire Twitter will become Musk’s personal private company. It’s too willful, the tweet was deleted, and the acquisition was made in a rage”, “I can’t accept it, the old horse is really complete. The king of the field”, “Trump: My heart is broken, I have no self-esteem, I can’t look back!”, “The old Twitter shareholders sold a good price. I don’t think I can expect to pay back. Most of the People live to live a little better, and he realized his childhood dream of living to change the world”, “and after recovery, believe it or not in the next second”…
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