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\n

Twitter has accepted Elon Musk\u2019s offer<\/a> to purchase the company for $44 billion, the company announced in a press release today. Musk purchased the company at $54.20 a share, the same price named in his initial offer on April 14th.<\/p>\n
\u201cFree 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,\u201d said Musk in a statement included with the release. \u201cI 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.\u201d<\/p>\n
\n\u201cFree speech is the bedrock of a functioning democracy\u201d <\/q><\/aside>\n<\/div>\nTwitter CEO Parag Agrawal also applauded the deal in the release. \u201cTwitter has a purpose and relevance that impacts the entire world,\u201d Agrawal said in an accompanying statement. \u201cDeeply proud of our teams and inspired by the work that has never been more important.\u201d<\/p>\nMusk laid out his plan for funding the deal in an SEC filing on Thursday<\/a>, which includes $25.5 billion in loans and $21 billion in personal equity. Analysts believe the loans could cost Twitter as much as $1 billion a year<\/a> in servicing fees, or roughly 20 percent of the company\u2019s annual revenue<\/a>.<\/p>\n
Shortly after Musk announced the buyout plan, Twitter\u2019s board instituted a \u201cpoison pill\u201d measure,<\/a> suggesting it intended to resist Musk\u2019s buyout. It\u2019s unclear what led to the company\u2019s change of heart. A New York Times<\/em> report<\/a> on Monday described Twitter employees as divided by the news, receiving little information concerning the ongoing talks.<\/p>\n
It\u2019s unclear what impact Musk will have on Twitter or where he\u2019ll start with changes. When he first disclosed his 9.2 percent stake in Twitter<\/a>, he polled Twitter users on the creation of an \u201cedit\u201d button, which Twitter was already developing. He later suggested nixing ads from Twitter Blue, lowering its subscription price, and adding Dogecoin as a payment option.<\/p>\n
Musk has been outspoken<\/a> in his criticism of Twitter moderation, describing himself as a \u201cfree speech absolutist\u201d and raising concerns over how the platform would moderate under his control. \u201cIt\u2019s just really important that people have the reality and the perception that they\u2019re able to speak freely within the bounds of the law,\u201d Musk said in an interview with Chris Anderson during TED 2022<\/a>. \u201cI think broadly, the civilizational risk is decreased the more we can increase the trust of Twitter as a public platform.\u201d<\/p>\n
Musk originally offered to buy Twitter<\/a> for $54.20 per share on April 14th. The offer followed Musk\u2019s disclosure of acquiring a 9.2 percent stake<\/a>, a move that made him Twitter\u2019s largest individual shareholder at the time. At one time Musk was offered a seat on the company\u2019s board of directors<\/a> but the deal soon fell apart<\/a>, as a seat on the board would prevent him from buying more than a 14.9 percent stake in Twitter.<\/p>\n<\/div>\n

<\/br><\/code><\/p>\n
Source: https:\/\/www.theverge.com\/2022\/4\/25\/23028323\/elon-musk-twitter-offer-buyout-hostile-takeover-ownership<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
Source: Twitter has accepted Elon Musk\u2019s offer to purchase the company for $44 billion, the company announced in a press release today. Musk purchased the company at $54.20 a share, the same price named in his initial offer on April 14th. \u201cFree speech is the bedrock of a functioning democracy, and Twitter is the digital […]<\/p>\n","protected":false},"author":1,"featured_media":4528,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[15,8],"tags":[16],"class_list":["post-4527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-policy","category-technology","tag-policy"],"yoast_head":"\nTwitter accepts buyout, giving Elon Musk total control of the company - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/04\/26\/twitter-accepts-buyout-giving-elon-musk-total-control-of-the-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Twitter accepts buyout, giving Elon Musk total control of the company - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: Twitter has accepted Elon Musk\u2019s offer to purchase the company for $44 billion, the company announced in a press release today. 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