Monday, April 25, 2022

Confirmed! Twitter seals deal with Elon Musk @$44bn for takeover - ITREALMS

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It is now confirmed that micro-blog social platform, Twitter has sealed a deal with billionaire entrepreneur, Mr. Elon Musk for its purchase at $44 billion, about N9,949,920,000.00, reports 
ITREALMS.
Affirming this deal on Monday, Twitter revealed that the sale was a dramatic shift for the board, which had originally maneuvered to block Musk from taking the social media network private.
Musk was quoted in a joint press statement proclaiming the sale as saying that “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 had taken a major stake in the firm earlier this month before lining up last week some $46.5 billion in financing to push forward with the purchase.


ITREALMS gathered that Twitter board chair, Bret Taylor had said they “conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing.”


Stressing that “The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”

The polarizing Tesla chief’s campaign to buy the social media giant sparked concern that his unpredictable statements and alleged bullying are contradictory to his stated aims for the platform.

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