Twitter and Elon Musk: Purchase Agreement
Finally, it appears that there were not many aspects of the agreement that the parties needed to improve, or, to be more precise, its importance was far less important than the final sum of the acquisition.
Thus, according to the official statement, Elon Musk will acquire Twitter at a price of 54.20 dollars per share, for a total of around 44 billion dollars, a sum that is 38 percent higher than the price of the shares at the close of its listing on April 1, the day before Musk revealed his 9 percent stake.
Once the procedure is completed, Twitter will no longer be a public business and will become Elon Musk's property. As a result, the firm will no longer be required to file filings with the SEC, an entity with which Musk has a strained relationship.
"Freedom of expression is the foundation of a functional democracy, and Twitter is the digital marketplace where crucial problems for humanity's future are contested," Musk added.
" I also want to make Twitter better than ever by adding new features, opening up the algorithms to improve trust, defeating spambots, and authenticating all humans." Twitter has enormous potential, and I'm excited to work with the company and the user community to realize it."
Twitter CEO Parag Agrawal, on his part, stated, "Twitter has a purpose and relevance that resonates around the world." We are immensely proud of our staff and motivated by work that has never been more vital."
"Twitter's Board of Directors followed a serious and thorough process to analyze Elon's proposal, specifically focused on value, certainty, and funding, the proposed deal will provide a significant cash premium, and we believe it is the best option for Twitter shareholders," stated Bret Taylor, Independent Chairman of the Twitter Board of Directors
Thus, even though the board of directors has reached an agreement with Musk, it must still be ratified by shareholders and supervised and approved by regulators, who, given the social significance of this operation, will almost certainly be fully utilized at the time. Nonetheless, both parties want to complete the operation this year.
Of course, the major question now is what path Twitter will take once it is owned by Elon Musk. But, of course, to dispel those fears, and while his words in this regard appear to be favorable, we will have to wait a few months to confirm them.
Yes, he has indicated in his account that he hopes that even those who are the harshest critics of his character would continue to use the social network. So, according to what has been said, the beginning premises are positive, but we must remember that we are talking about Elon Musk, so it is advisable not to have illusions and wait to see what happens in the future.
