Breaking news coming out on your Monday afternoon as Twitter has accepted Elon Musk’s offer to buy the company for $44 BILLION dollars.
Twitter’s Board said it will take Musk’s $44 billion offer for the company, ending weeks-long saga over whether the company would accept his unsolicited bid or not.
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” Twitter chairman Bret Taylor said in a statement. “The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”
Musk made the following statement.
“Free 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,” Musk said in a statement. “I 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. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”
Thanks to our friends at Forbes for contributing to this story.