• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Social Media

Twitter Accepts Elon Musk’s $43 Billion Buyout Offer

Olagoke Ajibola by Olagoke Ajibola
April 25, 2022
in Social Media
Share on FacebookShare on Twitter

Micro-blogging platform Twitter have now accepted offer made by world billionaire Elon Musk for the purchase of the company. Earlier today, Twitter disclosed the announcement of the $44 billion purchase via a press release. Reports have revealed that the billionaire purchased the company at $54.20 per share, the same price named in his initial offer on April 14th. 

A series of briefings happened before the offer was accepted. The process began with Twitter’s board of directors entering into talks with Musk to learn more about his bid and see if there was room to negotiate a more favorable terms for the company. The agreement went further with the social network board meeting and recommending the transaction to Twitter shareholders. The sale was a dramatic shift for the board, which had originally made moves to block Musk from taking the social media network private.

Twitter board chairman, Bret Taylor mentioned in a statement that before accepting the offer for the purchase the board “conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing.” Taylor added that “The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”

In a statement by Elon Musk along with the release “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 added that “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.” Prior to the announcement, Musk highlighted some of the possible reforms he’ll love to see on twitter within the coming weeks. This includes loosening content restrictions (which were used to suspend former President Donald Trump’s account) and the need to ban fake or automated accounts. Also he created a poll that called for the introducing of the edit feature. 

Twitter CEO Parag Agrawal has also applauded the deal between Twitter and billionaire Musk in the release. Agrawal has disclosed that “Twitter has a purpose and relevance that impacts the entire world.” In a statement addressed to Twitter employees he says “Deeply proud of our teams and inspired by the work that has never been more important.”

Musk shares with the public his laid out plans for funding the deal in an SEC filing. This will include $25.5 billion in loans and $21 billion in personal equity. Analysts say that the loans could cost Twitter to the tune of $1 billion a year in servicing fees, or even nearly 20 percent in annual revenue.

Earlier in the month, Musk made purchases of a major stake in Twitter before making moves last week to push towards the purchase of the social media company. For now its unclear the impact of Elon Musk’s new involvement with Twitter or where changes will start from. 

Related Posts:

  • A photo illustration shows Elon Musk’s twitter account
    Breaking: Elon Musk Notifies Twitter Of Deal Termination
  • iphone-7-BGR
    Twitter To Pursue Legal Battle With Elon Musk After…
  • The Trial Between Twitter And Elon Musk Is Set To…
  • Twitter Sues Elon Musk for Terminating His $44 Billion Takeover Bid
    Twitter Sues Elon Musk for Terminating His $44…
  • A photo illustration shows Elon Musk’s twitter account
    Twitter Is Suing Elon Musk, Forcing Him To Honour…
  • Elon Musk Is Ready To Acquire Twitter, And At The Original Price He Intended
    Elon Musk Is Ready To Acquire Twitter, And At The…
  • 000142228_piclink
    Musk Tells Advertisers, "Twitter Can't Be ‘A…
  • Elon-Musk-Twitter-Purchase-Update-Business-1238367031
    Elon Musk Will Buy Twitter For Real This Time

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: BoardbusinessenterpriseMuskPurchasesocial mediatwitterwebsite
Olagoke Ajibola

Olagoke Ajibola

Olagoke Ajibola is a creative writer and content producer with an eye for details and excellence. He has a demonstrated history of telling stories for TV, Film and Online. Aside from being fascinated by the power of imagination, his other interest are travel, sport, reading and meeting people.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Google Photos Marks 10th Anniversary with Editor Updates and QR Sharing May 29, 2025
    • Apple Launches Self Repair Service on iPads May 29, 2025
    • Everything To Know About AI Chatbot App DeepSeek May 29, 2025
    • Students Create AI App to Detect Fruit Ripeness May 29, 2025
    • DeepSeek Launches R1 Reasoning Model on Hugging Face May 29, 2025
    • xAI Pays Telegram $300M to Integrate Grok AI May 29, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok