Wednesday, October 5, 2022
HomeBig TechTwitter Accepts Elon Musk's $44 Billion Purchase Offer

Twitter Accepts Elon Musk’s $44 Billion Purchase Offer

Twitter has accepted Elon Musk’s $44 billion offer to purchase the company and then make it private. Rumors started to swirl over the weekend before the Monday, April 25th, 2022 announcement. Early in the workday on Monday, Twitter halted trading of its shares. So, of course, the rumors of its pending sale were true so the only thing to do was to formally announce it. This purchase represents a 38% increase in Twitter’s previous valuation and it breaks down to $54.20 per share. There are a few steps left but they are mostly things dealing with Government regulations. Although the deal is not completely on the books as of yet, both parties – Twitter and Elon Musk – have agreed to the sale.

Elon Musk has a history of criticizing Twitter over the controversies surrounding the censorship of outspoken political figures such as Donald Trump. Twitter also censors other issues that are somewhat politically related such as vaccine (mis)information and also stories that could damage one particular side of the political aisle (the Hunter Biden New York Post drama). He has hinted toward buying the company in the past… even as far back as 2017. Now, in 2022, the Tesla CEO has finally put his money where his mouth is. Speculation will swirl around what Musk will accomplish after this acquisition. Some say he will prevent censorship of any kind while others say he will ruin the platform. Only time will tell how this gargantuan purchase will play out.

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SOURCES:

Twitter accepts Musk’s $44 billion deal | Fox Business

Twitter accepts Elon Musk’s buyout deal

Elon Musk Documentary Announced from New York Times (TV News Roundup) – Variety

Twitter accepts Elon Musk’s $44B acquisition offer | TechCrunch

Elon Musk and Twitter Reach $44 Billion Deal: Live Updates – The New York Times

Elon Musk’s deal to buy Twitter leaves many key questions unanswered

Trump will not return to Twitter even as Elon Musk purchases platform, will begin using his own TRUTH Social | Fox News

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