It is now officially announced that the billionaire Elon Musk has finally purchased 100 percent share of the social media site Twitter for around $44 billion, which indicates that he bought per share for approximately $54.20. According to reports, he has purchased all shares in cash and has become the owner of Twitter.
Twitter has been assessing the offer of Elon Musk for the last couple of weeks. As per a previous statement given by Elon Musk, the microblogging platform has “extraordinary potential,” and he intends to spread it all.
However, when it comes to the takeover, the current CEO of Twitter, Parag Agrawal stated,
“Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”
Apart from that, Twitter’s Independent Board Chair, Bret Taylor said,
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”
Elon Musk bought a 9.2 percent stake in Twitter at the beginning of this month. This acquisition has made him the second-biggest shareholder in the tech giant. However, the one owns a 10.3 percent stake in the microblogging platform.
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Afterward, the current CEO of Twitter, Parag Agrawal, welcomed Tesla’s boss to become a Twitter board member. However, Musk did not accept his offer. And this started a conflict between Twitter and Elon Musk.
In addition to that, Musk has further talked about an ‘Edit Button’ on the platform n the past. He also held a poll, where he intentionally misspelt yes and no, supposedly to point out that an edit button is required considering the typos that people normally do while tweeting.
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It is important to mention here that the microblogging platform has already verified that it is going to roll out an Edit button.