The Twitter board agreed earlier today with Tesla CEO Elon Musk’s $44 billion takeover offer. There have been major developments, but it’s not clear what the world’s richest man will do with his favourite social media platform next.
According to the acquisition agreement, Musk will bid $54.2 per share for Twitter. Twitter’s announcement on Monday also ended a “hostile takeover” turmoil triggered by Musk. Initially, Musk said his $54.2 bid was the best and final offer.
In a statement issued on Monday, Twitter said Musk will pay $21 billion directly for the acquisition, and has secured an additional $25.5 billion in financing, including debt financing and margin loan financing. Twitter also said the two sides imposed no financial conditions on the closing of the acquisition.
In this way, Musk finally got his wish and got Twitter. But many key questions remain unanswered about the world’s most popular social platform. Twitter users, employees, shareholders and American politicians are anxiously awaiting answers to many questions
I hope that even my worst critics remain on Twitter, because that is what free speech means
— Elon Musk (@elonmusk) April 25, 2022