News of the Cyber World

[kyonides]

Twitter Accepts Elon Musk’s $44 Billion Takeover Bid

Twitter’s board of directors has approved Elon Musk’s offer to purchase the social media firm and take it private in a transaction valued at about $44 billion, the company announced on April 25.

The company accepted the billionaire entrepreneur’s proposal of $54.20 per share in cash.

“Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important,” CEO Parag Agrawal said in a company statement.

Musk said in a 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. 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.”
...
The agreement came after Musk confirmed last week that he had secured $46.5 billion in funding commitments to finance the takeover. This included $25.5 billion in debt financing through Morgan Stanley and other financial firms.

Musk plans to take the company private when the transaction is completed. The deal is expected to finalize this year. Goldman Sachs, J.P. Morgan, and Allen & Co. are working as financial advisers to Twitter, while Morgan Stanley is serving as lead financial adviser to Musk.

Some people  think that Musk's move will bring free speech back to Twitter...
I'm not that optimistic to be honest with you.
Only time will tell...