Twitter has officially accepted Elon Musk‘s offer to purchase the social media company for $54.20 per share.
The value of the sale is estimated at around $44 billion. Once the sale goes through, Twitter will become a private company owned wholly by Musk.
Click inside to read Elon Musk’s statement about the sale…
“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 after the sale was finalized by both parties. “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. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”
Parag Agrawal, Twitter’s 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.”
This major news comes just a few weeks after Musk became Twitter’s largest shareholder. At one point, he intended to join Twitter’s board, but reversed that decision and ended up being sued by shareholders.
Earlier in the day, it was rumored that the platform would accept his offer.
Source: justjared.com