Twitter Agrees to Elon Musk Purchase For $44 Billion!

Twitter Agrees to Elon Musk Purchase For $44 Billion!

It’s official – Twitter will have a new owner after they approve Elon Musk‘s purchase!

The social media company’s board has agreed to sell to the Tesla co-founder, and richest person in the world.

This news comes after he was previously announced to be joining the board, followed by being sued by Twitter shareholders after he backed out from joining, then announcing plans to purchase the company.

Twitter then was reportedly adapting a “poison pill” to prevent Elon‘s “takeover attempt.”

Now, after consideration for his bid, the board is approving the sale.

See Elon Musk and Twitter’s statements inside…

“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” the company’s independent board chair Bret Taylor, shared in a statement, via THR. “The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”

“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,” Elon said in a statement after the announcement.

“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,” he continued. “Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

Parag Agrawal, Twitter CEO, said, “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”

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Photos: Getty, Twitter
Posted to: Elon Musk, Twitter