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Elon Musk buys Twitter

The board of directors accepts the entrepreneur’s $44 billion offer after initial resistance
Elon Musk buys Twitter.

Elon Musk, the world’s richest man, has finally succeeded in acquiring the social media firm Twitter. The microblogging platform’s board of directors accepted Musk’s $44 billion offer to take the company private.

Musk buys Twitter news

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a statement announcing the purchase. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.”

The billionaire pitched the takeover bid for Twitter earlier this month at $54.20 per share, shortly after he bought a 9.2% share of the company on April 4. Twitter shares at the time were trading below $40 per share.

However, Twitter’s board was originally reluctant to accept the bid and even enacted a shareholders’ rights plan known as a ‘poison pill’ to protect the company from what it deemed a hostile takeover. But earlier this week, reports emerged that Twitter executives had begun warming up to discussing the deal.

Twitter shares have jumped by over 35% since Musk announced his acquisition plans. They were trading above $52 per share in early trading on Monday.

“I hope that even my worst critics remain on Twitter, because that is what free speech means,” Musk tweeted earlier on Monday, as unconfirmed reports of the sale appeared in the press.

A regular on Twitter with over 81.5 million followers, Musk is famous for his tweets, some of which, however, have landed him in legal hot water. In fact, his move to buy Twitter came shortly after US regulators announced they have authority to subpoena the Tesla CEO about his tweets and urged a federal judge not to let him tweet without supervision. This prompted Musk to tweet that he is “giving serious thought” to building his own social media platform. He made his bid for Twitter 20 days later.

Source:RT News

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2 COMMENTS

  1. Not yet, the shareholders have not voted on it yet, they have the final say BUT will Blackrock, Vanguard and State Street and the other investment bankers who hold 80% of Twitter since the float and who elected the `non performing` board that is only interested in censorship sell? why? Twitter has not made them any money but they still hold the shares!
    The shareholders will not sell because censorship only works if you control ALL social media, if you let one go and it goes full free speech then everyone will flock there and they will lose control of the narrative, so why sell?
    Unless,,,,
    Blackrock and Vanguard are worth <$20 Trillion, Musk is worth around $260 Billion, if you have a problem (Musk) and you want to take him out the only way is to separate him from his money, then sell him Twitter then destroy Twitter and a large part of Musk's wealth, if they sold out to Musk and then withdrew Cloudflares services ( Blackrock and Co are also the parent companies of them, Twitter would not be able to operate) cause private (fascist) companies can do anything they want, then Twitter would fail and Musk would lose Billions and then Blackrock and co could buy it back for chimp change.
    There is a war going on and its not over yet, Musk is up for it but he is up against the NWO, even if he loses he would have smoked out the big players and shining light on these roaches is how we will win.

  2. From CNBC:

    “Though Musk has indicated that his primary interest in Twitter has to do with what he views as the company’s censorship of free speech, Musk critics are justifiably concerned that the billionaire’s control over the platform will result in the silencing of their voices and others with whom he may disagree…”

    Good God, the lack of self awareness is astounding.

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