Twitter’s board has now accepted Elon Musk’s “best and final” offer to wholly purchase the tech giant for approximately $44 billion dollars. The board’s decision was unanimous. The agreement brings a swift end to the high-profile month of deliberation. Musk’s supporters and advisers have included the founder and former CEO of Twitter in Jack Dorsey.
Upon agreement by the shareholders and fulfillment of regulatory approvals, Musk will take Twitter into a new era. This era was highlighted by Elon’s own Twitter feed.
???? Yesss!!! ???? pic.twitter.com/0T9HzUHuh6
— Elon Musk (@elonmusk) April 25, 2022
The self-described free speech absolutist has obtained $25.5 billion in fully committed debt and margin loan financing, as well as an equity pledge of $21.0 billion. The conclusion of the transaction is not subject to any financial conditions. The purchase price is a 38 percent increase from Twitter’s closing stock price on April 1, 2022. This was the final trading day before Mr. Musk revealed his roughly 9% ownership in the company.
This purchase has also raised questions about what accounts could be restored as a result of the new policies coming in place. Although it remains to be seen what exactly will be instantiated, there is at least one former member that will not rejoin. The 45th POTUS stated “I am not going on Twitter, I am going to stay on TRUTH,” Trump told Fox News. “I hope Elon buys Twitter because he’ll make improvements to it and he is a good man, but I am going to be staying on TRUTH.”
I hope that even my worst critics remain on Twitter, because that is what free speech means
— Elon Musk (@elonmusk) April 25, 2022
Although there has been a spectrum of debate about the efficacy of Elon’s purchase of the company, his stated intentions showcase his wishes for that debate to be held freely.
