Twitter accepts Elon Musk’s $44bn deal

Tech/AITech news
By Nada Ali
Elon Musk

Twitter board has approved on Wednesday Elon Musk’s proposal to buy the company for $44 billion, with the cash deal price worth $54.20 per share.

Twitter co-founder Jack Dorsey described the Elon’s deal as “the singular solution I trust.”

The changes expected to occur on Twitter platform after the acquisition is completed.

“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” said Twitter’s independent board chair.

Musk’s first change is to eliminate the automated spam accounts. as he said he would open the platform’s algorithms up to the public to increase users’ trust, said in a joint statement with Twitter.

Last week, Musk stated that he had secured $46.5 billion in funding to purchase Twitter. This pressured the board of directors to reach an agreement.

Musk explained on Monday, that he views Twitter as an important platform for to express opinions. “I hope that even my worst critics remain on Twitter, because that is what free speech means,” he said just hours before the Twitter board announced deal with Musk.

 

 

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