Twitter’s board of directors announced on Monday that it accepts the $ 44 billion offer made by Elon Musk.
Today announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company ,” Twitter chairman Bret Taylor said in a statement.
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.” , he pointed out, according to FORBES.
This concludes the long series of talks surrounding the negotiations. On Monday, while the members of the board of directors were analyzing the offer, the shares increased by 5.5%. Twitter shares rose about 6% after announcing the information.
The billionaire, who has over 83 million followers on Twitter, has repeatedly said he wants to transform the platform by giving more freedom of speech and giving users more control over what they see on it.
The changes listed by Musk include the elimination of crypto-spam bots, ensuring freedom of expression, implementing the ability to edit, and simplifying the account verification process.
Elon Musk reacts after the news of him acquiring Twitter.