Twitter has announced that it has accepted Musk’s offer to acquire the publicly traded company at $54.20/share, valuing the social media platform at $44 billion.
Twitter’s Independent Board Chair Bret Taylor says the Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing.
He says the proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.
Musk repeated that free speech is the key to Twitter’s future adding that new products, fighting spam and opening up its algorithms, are things the company was already in the process of doing prior to his dramatic intervention.