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Saturday, March 25, 2023

Elon Musk Acquires Twitter

Elon Musk’s endless efforts about Twitter, yielded results today. With the official statement, it was shared that Twitter accepted Musk’s offer.

Elon Musk, one of the most active users of the platform, who has managed to become an event with every tweet he has sent for years, has been on the agenda with the news of buying Twitter for about a month. As the first step, Musk bought a huge share to be the biggest partner of the platform, and then announced his main intention; Buying Twitter.

After the successive news in the last days, the expected statement came this evening. After the negotiations between Twitter and Elon Musk, the platform announced that Elon Musk’s huge offer of $ 54.20 per share and $ 44 billion in total was accepted.

After the announcement of the decision, the first statement came from both the Twitter front and Musk. “Freedom of expression is the cornerstone of a functioning democracy, and Twitter is the digital town square where issues vital to the future of humanity are discussed,” Musk said in a statement. “I want to make Twitter better than ever by defeating spam bots and authenticating all people. Twitter has tremendous potential, I look forward to working with the company.” he said.

Twitter CEO Parag Agrawal said, “Twitter has a purpose that affects the whole world. We are proud of our teams and inspired by their work, which has become more important than ever before.”

Although the proposal was accepted after the negotiations between Twitter and Elon Musk, there are some steps to be followed to complete the agreement. The agreement, which was unanimously approved by Twitter’s Board of Directors, requires the approval of Twitter shareholders, obtaining valid regulatory approvals and completing some legal processes. Incoming information is that all these steps will be completed in 2022.

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