Twitter accepts Elon Musk’s acquisition offer – AZERTAC

Baku, April 26, AZERTAC

Twitter introduced on Monday it has accepted Tesla CEO Elon Musk’s supply to amass the corporate at 54.20 U.S. {dollars} a share, valuing the social media platform at 44 billion {dollars}, in response to Xinhua.

“The Twitter Board performed a considerate and complete course of to evaluate Elon’s proposal with a deliberate concentrate on worth, certainty, and financing,” Twitter’s Impartial Board Chair Bret Taylor stated.

“The proposed transaction will ship a considerable money premium, and we imagine it’s the finest path ahead for Twitter’s stockholders,” he added.

The corporate stated that the transaction was unanimously accepted by the board, and it would probably shut this 12 months following shareholder and regulatory approval and “the satisfaction of different customary closing circumstances,” including that It isn’t a executed deal till the issues are resolved.

Musk repeated his chorus that “free speech” is essential to Twitter’s future. “I hope that even my worst critics stay on Twitter as a result of that’s what free speech means,” he tweeted.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital city sq. the place issues very important to the way forward for humanity are debated,” Musk famous in Twitter’s assertion saying the deal.

“I additionally need to make Twitter higher than ever by enhancing the product with new options, making the algorithms open supply to extend belief, defeating the spam bots, and authenticating all people. Twitter has large potential – I stay up for working with the corporate and the group of customers to unlock it,” he added.