Today: November 29, 2024
April 26, 2022
1 min read

Elon Musk buys Twitter for $44 billion

Elon Musk

MIAMI, United States. – Twitter accepted this Monday the purchase offer of the American businessman Elon Musk for 44 billion dollars, according to news agencies around the world.

Bret Taylor, independent chairman of the board of directors of Twitter, announced that “a thoughtful and comprehensive process had been undertaken to evaluate Elon’s proposal with a deliberate focus on value, certainty and funding. The proposed transaction will generate a premium of substantial effect and we believe it is the best way forward for Twitter shareholders.”

According to analyststhe transaction, which is not exempt from regulatory approvals and the fulfillment of other conditions, is expected to close during 2022. According to the details of the operation, Musk obtained the purchase from a plan that includes 25.5 billion dollars in loans and $21 billion in personal capital.

“I hope even my worst critics stay on Twitter, because that’s what free speech means,” tweeted Musk this afternoon, after hearing the news.

Also assured that freedom of expression is “the basis for a functioning democracy, and Twitter is the digital public square where vital issues for the future of humanity are debated. I also want Twitter to be better than ever.”

On the other hand, the New York Stock Exchange and the Nasdaq index also suspended Twitter’s listing on Monday pending new “news”, shortly before the announcement made by the billionaire company.

Both markets indicated the halt at 2:41 p.m. local time in New York under the label “pending news” when Twitter was rising around 5.5% amid heavy trading volume, the news agency said. EFE.

Musk, the founder of Tesla, he is considered the richest man in the world with a fortune of 219 billion dollars.

Recently, he offered 43 billion dollars for Twitter and days later he said he had 46.5 billion to carry out the operation.

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