Elon Musk buys Twitter
Twitter exploded tonight with the revelation that the CEO Elon Musk accepted their last-ditch offer. The board of directors had been wary of taking a revenue share, but finally gave in when Musk presented an improved offer worth $44 billion. The revelations came as reports previously show he was studying positively on it despite originally having a 0% approval rate.
Not only has little been known of the plans of the world’s richest man online, but in recent days, there have been conflicting reports that suggest he might sell off his business entirely. Musk has been investing in Twitter recently and purchased 1/ 3rd of the company. The purchase price is less than what was expected, but the CEO believes it will help growth. The news ended a business saga that began after Elon Musk’s made an offer to buy the company at $420 per share. Twitter’s CEO announced an investment ($21 billion) and secured debt financing, which was a large amount of money. The Tweet made it easier for people to get in on the deal, even if they were not big investors before, adding that “there are no financing conditions to close the transaction”. And after that, Musk takes the reins again.
So far, no one can securely guess what will happen on this issue. Elon Musk buys Twitter, but the process will take long more to complete. Weeks or even months we may be waiting for the final announcement. In the meantime, you can read more stories on the matter here.
Author: PC-GR
The World of Technology
