Twitter’s board has finally accepted the offer of Elon Musk to acquire the company at $54.20 per share. So, the deal is valued at around $44 billion. Twitter issued a press release to confirm this news and its trading was halted. After the transaction is complete, Twitter will become a privately held company.
Musk has offered a 38% premium price to Twitter’s closing stock price on April 1, 2022. Shareholders will receive $54.20 in cash for each share of Twitter stock. The transaction was unanimously approved by the board and is expected to close by the end of this year. It will go through shareholder and regulatory approval.
Now the world’s richest man will get the control of Twitter where he is already one of the most influential people. He has already hinted many times that he wants people to enjoy free speech on Twitter while the company currently has censorship. back in March, he questions Twitter’s free speech policy via a poll on Twitter. Today, he confirmed that Twitter will now become an absolute free speech platform.
Musk has criticized Twitter several times in the past. Now when he will own the company in a few months, let’s see what changes he will bring. He wanted to add an edit button, make Twitter’s censorship algorithm public, and make it a free speech platform. Now when he owns the platform, he has rights to do anything with it.
