The famous billionaire Elon Musk, the owner of the companies SpaceX and Tesla, bought Twitter, one of the largest social media companies in the world, for $ 44 billion.
He previously bought a 9.2 percent stake in Twitter on the stock exchange, had made an offer of $54.2 per share for the entire Twitter in a notice to the U.S. Securities and Exchange Commission (SEC) on April 14. Negotiations on the sale of Twitter to Elon Musk have been completed. Twitter’s board of directors has accepted Musk’s $44 billion offer to buy the platform.
The Twitter board of directors had not previously lenaed toward to this offer and had put in place a so-called ‘poison pill’ plan to prevent Musk from increasing his stake. Thanks to the poison pill, Twitter retains the right of existing shareholders other than the potential buyer to buy shares at a lower price.
However, after Musk announced that he had $ 46.5 billion in financing, Twitter changed its stance and agreed to negotiate with Musk. Meanwhile, some Twitter shareholders also announced their support for Musk’s acquisition of Twitter.
The sale took place when members of the board of directors of Twitter, the social media platform that gathered for Elon Musk’s $ 44 billion offer, accepted the offer.
“I hope that even the harshest critics of me will continue to stay on Twitter, because that’s what freedom of expression means,” Elon Musk, the new owner of Twitter, which has tens of millions of users around the world, said in a tweet shared on his Twitter account before the deal was announced.