Agreement between Elon and Twitter reached at 54.20 US dollars per share

Agreement between Elon and Twitter reached at 54.20 US dollars per share

 An agreement between Elon and Twitter was reached at 54.20 US dollars per share. Operations increase the social network to 44 billion dollars. Payments to shareholders will be made in cash and will result in a social farewell on Wall Street where it debuted in 2013. The transaction will be made through a financial entity wholly owned by the Tesla CEO. 

"The Twitter board has undertaken a thoughtful and comprehensive process to evaluate Elon's proposal with a deliberate focus on value, certainty, and funding," Bret Taylor, president of Twitter, said in a statement. "The proposed transaction will provide a large cash reward and we believe this is the best path for Twitter shareholders," he added. The purchase price represented a 38% premium to the company's closing price on April 1, the day before Musk announced that he had acquired a 9% stake in the company. 

Meanwhile, the announcement allowed Twitter to close higher on Wall Street, with prices up 5.7%. "I wish even my worst critics would stay on Twitter, because this is what free speech means," Elon Musk wrote in a tweet shortly before the agreement was made official. Who for now has no intention of returning to the platform is the former president of the United States, Donald Trump, banned from Twitter after the attacks on Capitol Hill on January 6, 2021. Speaking exclusively to Fox News, the tycoon said that the acquisition of Musk would be a positive development, but will stick with the platform, Truth Social. 

"I won't be using Twitter, I'll stay on Truth", he announced. Truth's beginnings so far have been marked by poor public success and the loss of a manager. However, the operation raised several questions in the White House. Spokeswoman Jen Psaki declined to comment on "any specific transaction", but did not forget that President Joe Biden has repeatedly warned of the risks associated with the excessive power of social media. "It doesn't matter who owns or runs Twitter - the president has long been concerned about the power of the big social media platforms,"   he said. Musk got one of the most influential social networks in the world , popular especially in the political and media circles, promising to make it "the platform of freedom of expression par excellence". 

Elon the Terrible hasn't clarified in detail what he wants to do with Twitter: apart from saying he wants to proceed with delisting the company, he hasn't disclosed his steps, only stating that the platform needs to be "changed" and that it should be based on "open source algorithms". What kind of leadership he wants to inspire is unclear: his own, of course. Obviously employees don't hide their frustration in private chats and complains about the silence of leaders that has so far left them clueless. 

Despite much skepticism, he managed to convince several shareholders of the merits of his offer, the level - he explained during a whirlwind of meetings - that Twitter management, struggling with economic outcomes for some time, alone would never succeed. . With investors on his side and above all greater clarity on financing for the transaction - he raised $46.5 billion in commitments for the transaction.

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