Following meetings and discussions by the board of directors of the Twitter, The same published a statement where they reported having unanimously accepted the offer made by Elon Musk to acquire the social network, who offered to pay about $ 54.20 USD for each ordinary share of the company.
Finally, after a series of meetings, the board of directors of Twitter officially accepted the buyout offer proposed by eccentric tycoon Elon Musk, who offered about $44 billion to take control of the social network.
It’s Official: Board of Twitter accepts Elon Musk’s buyout offer
This was announced by the team of Twitter in an official statement published a few minutes ago, where they report that they have accepted Musk’s offer, which offered about $54.20 per share of the social network’s common stock, which adds up to a value of about $44 billion to make the company responsible for turning the company into a privately held company under its power.
In relation to the proposal, the official statement reads as follows:
“Under the terms of the agreement, Twitter shareholders will receive $54.20 in cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. for each share of Twitter common stock they own at the closing of the proposed transaction. The purchase price represents a 38% premium to the closing price of Twitter stock on April 1, 2022, which was the last trading day before Musk announced his approximately 9% stake in Twitter.”
In this regard, the president of the independent board of Twitter, Bret Taylor, commented:
“The Twitter board undertook a thoughtful and comprehensive process to evaluate Elon’s proposal with a deliberate focus on value, certainty and financing. The proposed transaction will generate a substantial cash premium and we believe it is the best path forward for Twitter shareholders.”
For his part, the current CEO of Twitter, he said:
“Twitter has a purpose and relevance that affects the entire world. [We’re] Deeply proud of our teams and very inspired by the work that has never been more important.”
Énfasis and “ reclaiming freedom of expression “
Let’s keep in mind that the purchase intention of Twitter by Musk apparently gained momentum when the tycoon made a public survey through his account an account is essentially a whose purpose is to track the financial activities of a specific asset/ on the social network, in which he asked his followers if they felt that the platform a place to buy, sell and store cryptocurrency respected the freedom of expression of users, warning that the results could lead to very important actions in the future.
The results revealed that users didn’t feel the social network a network refers to all nodes in the operation of a blockchain at any given moment in time. guaranteed freedom of speech, so the next step for Musk was to become a 9% shareholder of Twitter, but plans moved forward and the tycoon proposed to acquire the platform to have the right over the direction and course of it. This led to him making the aforementioned offer, rubbing shoulders with other influential figures such as the founder of TRON, Justin Sun, who also made a rather lucrative proposal to figure as the main head of the project.
On the trade agreement, Musk said in the statement the following:
“Free speech is the foundation of a functioning democracy, and Twitter is the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. public square where issues vital to the future of humanity are debated. I also want to make Twitter better than ever by improving the product with new features, making algorithms open source to increase trust, defeating spam bots automated software that can carry out tasks such as cryptocurrency trades. and authenticating all humans. Twitter has enormous potential – I look forward to working with the company and the user community to unlock it.”
Terms of the agreement for the purchase of Twitter
Regarding the applicable terms for the purchase of Twitter, the statement reveals that Musk’s proposal was unanimously approved by the current board of directors.
Regarding the corresponding payments, the board indicated that Musk has made an initial contribution of about $22.5 billion. , and that it will subsequently make the payment of the remaining more than USD $21 billion.
Dejan claro que no existen condiciones para la financiación, por lo que el pago se hará por la totalidad del monto acordado..
The directive of the social network had among its plans to report on the performance for the first quarter of this fiscal year on April 28. However, this is postponed until further notice due to the new agreement.
For the moment there have been no pronouncements from other important figures associated with Twitter, as is the case of Jack Dorsey, who was founder and former CEO of the social network.
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Version by Angel Di Matteo / DiarioBitcoin
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