Twitter’s management has accepted Elon Musk’s offer to buy it for about $ 44 billion


On Monday, Twitter microblogging executive Elon Musk, an American businessman, accepted an offer to buy about $ 44 billion, making him one of the richest people in the world and one of the most influential social media platform owners, the U.S. press reported.

Elon Musk is the richest man in the world, according to Forbes

Under the agreement, Twitter shareholders will receive $ 54.2 for each ordinary share upon completion of the proposed transaction. The price per share in Monday’s deal is higher than the roughly $ 48 price the company’s securities were trading before Musk’s first announcement, but significantly lower than last year’s $ 70 share price.

Musk made an offer to buy Twitter on April 14 at $ 54.2 a share, valuing the company at $ 43.39 billion. Musk, who also runs Tesla, then said the offer was “the best and the last” and confirmed in a conversation with Bret Taylor, the company’s chairman of the board, that he does not intend to increase the amount intended for acquisition.

The market then expected Twitter to reject Musk’s offer as the company’s board of directors agreed on another share issue on April 15 to defend against a takeover initiated by the head of Tesla Inc.

However, Musk, which has a 9.2 percent stake in Twitter, said last week he has $ 46.5 billion in funds to fund the deal and is ready to make a direct buyout offer to shareholders. After that, Twitter leaders changed their minds and agreed to negotiate with Musk.

The billionaire explains the acquisition of Twitter by making the social network a “platform for free speech” around the world. Earlier this month, Musk said at a conference he “doesn’t look at Twitter as a way to make money”. The businessman did not make a public statement about whether he would restore the account of former U.S. President Donald Trump, which was permanently banned by the company shortly after the January 6 riots.

Trump told U.S. television on Monday that he would not return to Twitter even if his account was restored. The former president said he would officially join his own platform called Truth Social next week as planned. “I won’t get back to Twitter, I will stay at Truth. I hope Elon buys Twitter and improves it, he’s a good person,” he said.


MTI: Balázs Beregi

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